0001193125-17-259665.txt : 20170816 0001193125-17-259665.hdr.sgml : 20170816 20170816150127 ACCESSION NUMBER: 0001193125-17-259665 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 80 FILED AS OF DATE: 20170816 DATE AS OF CHANGE: 20170816 EFFECTIVENESS DATE: 20170816 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GOLDMAN SACHS TRUST CENTRAL INDEX KEY: 0000822977 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 033-17619 FILM NUMBER: 171036099 BUSINESS ADDRESS: STREET 1: 71 SOUTH WACKER DRIVE STREET 2: C/O GOLDMAN SACHS & CO CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 3126554400 MAIL ADDRESS: STREET 1: 200 WEST STREET CITY: NEW YORK STATE: NY ZIP: 10282 FORMER COMPANY: FORMER CONFORMED NAME: GOLDMAN SACHS SHORT INTERMEDIATE GOVERNMENT FUND DATE OF NAME CHANGE: 19910711 FORMER COMPANY: FORMER CONFORMED NAME: SHORT INTERMEDIATE GOVERNMENT FUND DATE OF NAME CHANGE: 19900104 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GOLDMAN SACHS TRUST CENTRAL INDEX KEY: 0000822977 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-05349 FILM NUMBER: 171036100 BUSINESS ADDRESS: STREET 1: 71 SOUTH WACKER DRIVE STREET 2: C/O GOLDMAN SACHS & CO CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 3126554400 MAIL ADDRESS: STREET 1: 200 WEST STREET CITY: NEW YORK STATE: NY ZIP: 10282 FORMER COMPANY: FORMER CONFORMED NAME: GOLDMAN SACHS SHORT INTERMEDIATE GOVERNMENT FUND DATE OF NAME CHANGE: 19910711 FORMER COMPANY: FORMER CONFORMED NAME: SHORT INTERMEDIATE GOVERNMENT FUND DATE OF NAME CHANGE: 19900104 0000822977 S000009241 Goldman Sachs Short Duration Tax-Free Fund C000025190 Institutional GSDUX C000025191 Service GSFSX C000025192 Class A GSDTX C000025194 Class C GSTCX C000090755 Investor Shares GDIRX C000194493 Class T Shares GSXTX 0000822977 S000009252 Goldman Sachs Dynamic Municipal Income Fund C000025254 Institutional GSMTX C000025255 Service GSMEX C000025256 Class A GSMIX C000025258 Class C GSMUX C000090756 Investor Shares GUIRX C000194494 Class T Shares GDMTX 0000822977 S000009255 Goldman Sachs High Yield Municipal Fund C000025270 Institutional GHYIX C000025271 Service C000025272 Class A GHYAX C000025274 Class C GHYCX C000090757 Investor Shares GYIRX C000194495 Class T Shares GYITX 0000822977 S000009300 Goldman Sachs Enhanced Income Fund C000025377 Institutional GEIIX C000025378 Administration GEADX C000025379 Class A GEIAX C000090758 Investor Shares GHIRX C000161283 Class R6 Shares GEIUX C000194496 Class T Shares GEHTX 0000822977 S000009301 Goldman Sachs Emerging Markets Debt Fund C000025381 Institutional GSDIX C000025382 Class A GSDAX C000037783 Class C GSCDX C000090759 Investor Shares GSIRX C000161284 Class R6 Shares GSIUX C000194497 Class T Shares GEZTX 0000822977 S000009302 Goldman Sachs High Quality Floating Rate Fund C000025384 Institutional GSARX C000025385 Service GSASX C000025386 Class A GSAMX C000058951 Investor Shares GTATX C000161285 Class R6 Shares GTAUX C000194498 Class T Shares GHFTX 0000822977 S000009303 Goldman Sachs Short Duration Government Fund C000025388 Institutional GSTGX C000025389 Service GSDSX C000025390 Class A GSSDX C000025392 Class C GSDCX C000058952 Investor Shares GTDTX C000161286 Class R6 Shares GSTUX C000194499 Class T Shares GSKTX 0000822977 S000009304 Goldman Sachs Government Income Fund C000025394 Institutional GSOIX C000025395 Service GSOSX C000025396 Class A GSGOX C000025398 Class C GSOCX C000058953 Class R GSORX C000058954 Investor Shares GSOTX C000161287 Class R6 Shares GSOUX C000194500 Class T Shares GGVTX 0000822977 S000009305 Goldman Sachs U.S. Mortgages Fund C000025400 Institutional GSUIX C000025401 Separate Account Institutional GSUPX C000025402 Class A GSUAX C000090760 Investor Shares GGIRX C000161288 Class R6 Shares GGIUX C000194501 Class T Shares GMETX 0000822977 S000009306 Goldman Sachs Core Fixed Income Fund C000025404 Institutional GSFIX C000025405 Service GSCSX C000025406 Class A GCFIX C000025408 Class C GCFCX C000058955 Class R GDFRX C000058956 Investor Shares GDFTX C000161289 Class R6 Shares GCFUX C000194502 Class T Shares GCFTX 0000822977 S000009307 Goldman Sachs Investment Grade Credit Fund C000025410 Institutional GSGDX C000025411 Separate Account Institutional GSCPX C000025412 Class A GSGAX C000090761 Investor Shares GTIRX C000161290 Class R6 Shares GTIUX C000194503 Class T Shares GTITX 0000822977 S000009308 Goldman Sachs Global Income Fund C000025414 Institutional GSGLX C000025415 Service GGISX C000025416 Class A GSGIX C000025418 Class C GSLCX C000090762 Investor Shares GBIRX C000161291 Class R6 Shares GBIUX C000194504 Class T Shares GGLTX 0000822977 S000009309 Goldman Sachs High Yield Fund C000025420 Institutional GSHIX C000025421 Service GSHSX C000025422 Class A GSHAX C000025424 Class C GSHCX C000058957 Class R GSHRX C000058958 Investor Shares GSHTX C000161292 Class R6 Shares GSHUX C000194505 Class T Shares GHYTX 0000822977 S000013795 Goldman Sachs Bond Fund C000037818 Class A GSFAX C000037819 Class C GSFCX C000037820 Institutional GSNIX C000041010 Service GSNSX C000058984 Class R GSNRX C000058985 Investor Shares GSNTX C000161293 Class R6 Shares GSFUX C000194506 Class T Shares GBNTX 0000822977 S000018567 Goldman Sachs Inflation Protected Securities Fund C000051524 Class A GSAPX C000051525 Class C GSCFX C000051526 Institutional GSIPX C000059010 Class R GSRPX C000059011 Investor Shares GSTPX C000161294 Class R6 Shares GSRUX C000194507 Class T Shares GIQTX 0000822977 S000020098 Goldman Sachs Local Emerging Markets Debt Fund C000056392 Class A GAMDX C000056393 Class C GCMDX C000056394 Institutional GIMDX C000090763 Investor Shares GLIRX C000194508 Class T Shares GLOTX 0000822977 S000029317 Goldman Sachs Strategic Income Fund C000090150 Class A Shares GSZAX C000090151 Class C Shares GSZCX C000090152 Institutional Shares GSZIX C000090153 Investor Shares GZIRX C000090154 Class R Shares GSZRX C000161295 Class R6 Shares GSZUX C000194509 Class T Shares GSZTX 0000822977 S000029320 Goldman Sachs High Yield Floating Rate Fund C000090159 Class A Shares GFRAX C000090160 Class C Shares GFRCX C000090161 Institutional Shares GSFRX C000090162 Investor Shares GFRIX C000090163 Class R Shares GFRRX C000194510 Class T Shares GFRTX 0000822977 S000036259 Goldman Sachs Short Duration Income Fund C000110983 Class A GDIAX C000110984 Class C GDICX C000110985 Institutional GDFIX C000110986 Investor Shares GSSRX C000110987 Class R GIFRX C000161296 Class R6 Shares GDIUX C000194511 Class T Shares GDITX 0000822977 S000040921 GOLDMAN SACHS DYNAMIC EMERGING MARKETS DEBT FUND C000126890 CLASS A SHARES GDDAX C000126891 CLASS C SHARES GDDCX C000126892 INSTITUTIONAL SHARES GDDIX C000126893 CLASS R SHARES GDDRX C000126894 Investor Shares GIRDX C000194512 Class T Shares GDDTX 0000822977 S000043061 Goldman Sachs Strategic Macro Fund C000133296 Class A GAAMX C000133297 Class C GAANX C000133298 Institutional GAAOX C000133299 Investor Shares GAAPX C000133300 Class R GAAQX C000194513 Class T Shares GAAFX 0000822977 S000043227 Goldman Sachs Long Short Credit Strategies Fund C000133721 Class A Shares GSAUX C000133722 Class C Shares GSAVX C000133723 Institutional Shares GSAWX C000133724 Investor Shares GSAYX C000133725 Class R Shares GSAZX C000194514 Class T Shares GSAQX 485BPOS 1 d390651d485bpos.htm GOLDMAN SACHS TRUST Goldman Sachs Trust

As filed with the Securities and Exchange Commission on August 16, 2017

1933 Act Registration No. 33-17619

1940 Act Registration No. 811-05349

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

 

 

FORM N-1A

REGISTRATION STATEMENT

UNDER

   THE SECURITIES ACT OF 1933  
   Pre-Effective Amendment No.  
   Post-Effective Amendment No. 622  

and/or

REGISTRATION STATEMENT

UNDER

   THE INVESTMENT COMPANY ACT OF 1940  
   Amendment No. 623  

(Check appropriate box or boxes)

 

 

GOLDMAN SACHS TRUST

(Exact Name of Registrant as Specified in Charter)

 

 

71 South Wacker Drive

Chicago, Illinois 60606

(Address of Principal Executive Offices)

 

 

Registrant’s Telephone Number, including Area Code: (312) 655-4400

CAROLINE L. KRAUS, ESQ.

Goldman Sachs & Co. LLC

200 West Street

New York, New York 10282

(Name and Address of Agent for Service)

 

 

Copies to:

STEPHEN H. BIER, ESQ.

Dechert LLP

1095 Avenue of the Americas

New York, NY 10036

 

 

Approximate Date of Proposed Public Offering: As soon as practicable after the effective date of the registration statement

It is proposed that this filing will become effective (check appropriate box)

 

immediately upon filing pursuant to paragraph (b)
on (date) pursuant to paragraph (b)
60 days after filing pursuant to paragraph (a)(1)
on (date) pursuant to paragraph (a)(1)
75 days after filing pursuant to paragraph (a)(2)
on (date) pursuant to paragraph (a)(2) of rule 485.

If appropriate, check the following box:

 

this post-effective amendment designates a new effective date for a previously filed post-effective amendment.

 

 

 


This filing relates solely to the following series and classes of the Registrant:

Class A Shares, Class C Shares, Institutional Shares, Service Shares, Investor Shares, Class R Shares, Class R6 Shares and Class T Shares of the Goldman Sachs Bond Fund, Goldman Sachs Core Fixed Income Fund, Goldman Sachs Government Income Fund and Goldman Sachs High Yield Fund.

Class A Shares, Class C Shares, Institutional Shares, Service Shares, Investor Shares, Class R6 Shares and Class T Shares of the Goldman Sachs Global Income Fund and Goldman Sachs Short Duration Government Fund.

Class A Shares, Class C Shares, Institutional Shares, Investor Shares, Class R Shares, Class R6 Shares and Class T Shares of the Goldman Sachs Inflation Protected Securities Fund, Goldman Sachs Short Duration Income Fund and Goldman Sachs Strategic Income Fund.

Class A Shares, Class C Shares, Institutional Shares, Service Shares, Investor Shares and Class T Shares of the Goldman Sachs Dynamic Municipal Income Fund and Goldman Sachs Short Duration Tax-Free Fund.

Class A Shares, Class C Shares, Institutional Shares, Investor Shares, Class R Shares, and Class T Shares of the Goldman Sachs Dynamic Emerging Markets Debt Fund, Goldman Sachs High Yield Floating Rate Fund, Goldman Sachs Long Short Credit Strategies Fund and Goldman Sachs Strategic Macro Fund (formerly, Goldman Sachs Fixed Income Macro Strategies Fund).

Class A Shares, Institutional Shares, Administration Shares, Investor Shares, Class R6 Shares and Class T Shares of the Goldman Sachs Enhanced Income Fund.

Class A Shares, Institutional Shares, Service Shares, Investor Shares, Class R6 Shares and Class T Shares of the Goldman Sachs High Quality Floating Rate Fund.

Class A Shares, Institutional Shares, Investor Shares, Separate Account Institutional Shares, Class R6 Shares and Class T Shares of the Goldman Sachs Investment Grade Credit Fund and Goldman Sachs U.S. Mortgages Fund.

Class A Shares, Class C Shares, Institutional Shares, Investor Shares, Class R6 Shares and Class T Shares of the Goldman Sachs Emerging Markets Debt Fund.

Class A Shares, Class C Shares, Institutional Shares, Investor Shares and Class T Shares of the Goldman Sachs High Yield Municipal Fund and Goldman Sachs Local Emerging Markets Debt Fund.


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all the requirements for effectiveness of this Post-Effective Amendment No. 622 under Rule 485(b) under the Securities Act of 1933 and has duly caused this Post-Effective Amendment No. 622 to its Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City and State of New York on the 16th day of August, 2017.

 

GOLDMAN SACHS TRUST
(A Delaware statutory trust)
By:  

/s/ Robert Griffith

  Robert Griffith,
  Assistant Secretary

Pursuant to the requirements of the Securities Act of 1933, this Post-Effective Amendment to said Registration Statement has been signed below by the following persons in the capacities and on the date indicated.

 

Name

  

Title

  

Date

1James A. McNamara

James A. McNamara

   President (Chief Executive Officer) and Trustee    August 16, 2017

1Scott M. McHugh

Scott M. McHugh

   Treasurer, Senior Vice President and Principal Financial Officer    August 16, 2017

1Joseph F. DiMaria

Joseph F. DiMaria

   Principal Accounting Officer    August 16, 2017

1Ashok N. Bakhru

Ashok N. Bakhru

   Chairman and Trustee    August 16, 2017

1Kathryn A. Cassidy

Kathryn A. Cassidy

   Trustee    August 16, 2017

1Diana M. Daniels

Diana M. Daniels

   Trustee    August 16, 2017

1Herbert J. Markley

Herbert J. Markley

   Trustee    August 16, 2017

1Jessica Palmer

Jessica Palmer

   Trustee    August 16, 2017

1Roy W. Templin

Roy W. Templin

   Trustee    August 16, 2017

1Gregory G. Weaver

Gregory G. Weaver

   Trustee    August 16, 2017

 

By:  

/s/ Robert Griffith

  Robert Griffith,
  Attorney-In-Fact

 

1 Pursuant to powers of attorney previously filed.


CERTIFICATE

The undersigned Assistant Secretary for Goldman Sachs Trust (the “Trust”) hereby certifies that the Board of Trustees of the Trust duly adopted the following resolution at a meeting of the Board held on June 14-15, 2017.

RESOLVED, that the Trustees and Officers of the Trust who may be required to execute any amendments to the Trust’s Registration Statement be, and each hereby is, authorized to execute a power of attorney appointing James A. McNamara, Caroline L. Kraus and Robert Griffith, jointly and severally, their attorneys-in-fact, each with power of substitution, for said Trustees and Officers in any and all capacities to sign the Registration Statement under the Securities Act of 1933 and the Investment Company Act of 1940 of the Trust and any and all amendments to such Registration Statement, and to file the same, with exhibits thereto, and other documents in connection therewith, with the SEC, the Trustees and Officers hereby ratifying and confirming all that each of said attorneys-in-fact, or his or her substitute or substitutes, may do or may have caused to be done by virtue hereof.

Dated: August 16, 2017

 

/s/ Robert Griffith

Robert Griffith

Assistant Secretary


EXHIBIT INDEX

 

EX-101.INS   

XBRL Instance Document

EX-101.SCH   

XBRL Taxonomy Extension Schema Document

EX-101.CAL   

XBRL Taxonomy Extension Calculation Linkbase

EX-101.DEF   

XBRL Taxonomy Extension Definition Linkbase

EX-101.LAB   

XBRL Taxonomy Extension Labels Linkbase

EX-101.PRE   

XBRL Taxonomy Extension Presentation Linkbase

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930 1524 263 520 901 1970 57 184 322 724 61 207 366 828 335 529 740 1347 <b>Portfolio Turnover </b> <b>Principal Strategy </b> 0.0516 0.0216 0.0434 0.0507 0.021 0.0429 0.0088 0.0498 0.0256 0.0442 0.0025 0.0328 0.0424 0.05 0.0298 0.059 0.0403 0.056 0.0188 0.0486 0.0417 0.0539 0.013 0.0534 0.0186 0.0384 0.0025 0.0328 0.0424 0.05 0.0298 0.059 0.0403 0.056 0.0188 0.0486 0.0417 0.0539 0.0338 0.0643 0.0295 0.0498 0.0025 0.0328 0.0424 0.05 0.0298 0.059 0.0403 0.056 0.0188 0.0486 0.0417 0.0539 0.0345 0.0641 0.0614 0.0025 0.0328 0.0383 0.0298 0.059 0.0587 0.0188 0.0486 0.0506 0.0516 0.0216 0.0434 0.0025 0.0328 0.0424 0.05 0.0298 0.059 0.0403 0.056 0.0188 0.0486 0.0417 0.0539 <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleShareholderFees000012 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualFundOperatingExpenses000013 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleTransposed000014 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000017 column period compact * ~</div> <b>Investment Objective </b> <b>Expense Example </b> <b>Portfolio Turnover </b> <b>Principal Strategy </b> Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation ("FDIC") or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.<ul type="square"><li><b>Counterparty Risk.</b>&nbsp; Many of the protections afforded to cleared transactions, such as the security afforded by transacting through a clearinghouse, might not be available in connection with over-the-counter ("OTC") transactions. Therefore, in those instances in which the Fund enters into OTC transactions, the Fund will be subject to the risk that its direct counterparty will not perform its obligations under the transactions and that the Fund will sustain losses.</li><li><b>Credit/Default Risk.</b>&nbsp; An issuer or guarantor of fixed income securities held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund's liquidity and cause significant deterioration in net asset value ("NAV"). These risks are more pronounced in connection with the Fund's investments in non-investment grade fixed income securities.</li><li><b>Derivatives Risk.</b>&nbsp; The Fund's use of futures, forwards, foreign currency forwards, swaps, structured securities (e.g., credit linked notes) and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligations. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund's use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund's ability to invest in derivatives and other instruments and adversely affect the Fund's performance and ability to pursue its investment objectives.</li><li><b>Foreign and Emerging Countries Risk.</b>&nbsp; Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls, sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States or other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. These risks may be more pronounced in connection with the Fund's investments in securities of issuers located in emerging countries.</li><li><b>Interest Rate Risk.</b>&nbsp; When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rate are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund's investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.</li><li><b>Large Shareholder Transactions Risk.</b>&nbsp; The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund's NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund's performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund's current expenses being allocated over a smaller asset base, leading to an increase in the Fund's expense ratio.</li><li><b>Liquidity Risk.</b>&nbsp; The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests, or other reasons. To meet redemption requests, the Fund may be forced to sell securities at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.</li><li><b>Non-Diversification Risk.</b>&nbsp; The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified mutual funds. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.</li><li><b>Non-Hedging Foreign Currency Trading Risk.</b>&nbsp; The Fund may engage in forward foreign currency transactions for both hedging and non-hedging purposes. The Funds' Investment Adviser may purchase or sell foreign currencies through the use of forward contracts based on the Investment Adviser's judgment regarding the direction of the market for a particular foreign currency or currencies. In pursuing this strategy, the Investment Adviser seeks to profit from anticipated movements in currency rates by establishing "long" and/or "short" positions in forward contracts on various foreign currencies. Foreign exchange rates can be extremely volatile and a variance in the degree of volatility of the market or in the direction of the market from that anticipated by the Investment Adviser may produce significant losses to the Fund. Some of these transactions may also be subject to interest rate risk.</li><li><b>Non-Investment Grade Fixed Income Securities Risk.</b>&nbsp; Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as "junk bonds") are considered speculative and are subject to the increased risk of an issuer's inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity.</li><li><b>Sovereign Default Risk.</b>&nbsp; An issuer of non-U.S. sovereign debt or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay the principal or interest when due. This may result from political or social factors, the general economic environment of a country, levels of foreign debt or foreign currency exchange rates.</li></ul> <b>Goldman Sachs Dynamic Emerging Markets Debt Fund&#8212;Summary </b> The Goldman Sachs Dynamic Emerging Markets Debt Fund (the &#8220;Fund&#8221;) seeks a high level of total return consisting of income and capital appreciation. <b>Fees and Expenses of the Fund </b> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 71 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 75 and in Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.<br /><br />The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Investor, Class R and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Investor, Class R and/or Class T Shares at the end of those periods, unless otherwise stated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same (except that the Example incorporates the expense limitation arrangement for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be: The Fund pays transaction costs when it buys and sells securities or instruments (i.e., &#8220;turns over&#8221; its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund&#8217;s performance. The Fund&#8217;s portfolio turnover rate for the fiscal year ended March 31, 2017 was 142% of the average value of its portfolio. The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (&#8220;Net Assets&#8221;) in sovereign and corporate debt securities of issuers in emerging market countries and other instruments, including credit linked notes and other investments, with similar economic exposures. Such securities and instruments may be denominated in U.S. Dollars or in non-U.S. currencies.<br /><br />The Fund&#8217;s portfolio management team seeks to build a portfolio across the emerging markets debt market consistent with the Fund&#8217;s overall risk budget and the views of the Investment Adviser&#8217;s Global Fixed Income top-down teams. As market conditions change, the volatility and attractiveness of countries, regions, sectors, securities and strategies can change as well. To optimize the Fund&#8217;s risk/return potential within its long-term risk budget, the portfolio management team may dynamically adjust the mix of top-down and bottom-up strategies in the Fund&#8217;s portfolio.<br /><br />The Fund may invest in all types of foreign and emerging market country fixed income securities, including the following:<ul type="square"><li>Debt issued by governments, their agencies and instrumentalities, or by their central banks, including Brady Bonds;</li><li>Interests in structured securities;</li><li>Fixed and floating rate, senior and subordinated corporate debt obligations (such as bonds, debentures, notes and commercial paper);</li><li>Loan participations; and</li><li>Repurchase agreements with respect to the foregoing.</li></ul>Foreign securities include securities of issuers located outside the U.S. or securities quoted or denominated in a currency other than the U.S. Dollar.<br /><br />The Fund may also make currency investments, particularly longer-dated forward contracts that provide the Fund with economic exposure similar to investments in sovereign and corporate debt with respect to currency and interest rate exposure. Additionally, the Fund intends to use structured securities and derivatives, including but not limited to credit linked notes, financial futures contracts, treasury futures contracts, forward contracts, total return swap contracts, credit default swap contracts, and interest rate swap contracts, to attempt to improve the performance of the Fund, to hedge the Fund&#8217;s investments, and/or to gain exposure to certain countries or currencies.<br /><br />The Fund may invest in securities without regard to credit rating. The countries in which the Fund invests may have sovereign ratings that are below investment grade or are unrated. Moreover, to the extent the Fund invests in corporate or other privately issued debt obligations, many of the issuers of such obligations will be smaller companies with stock market capitalizations of $1 billion or less at the time of investment. Securities of these issuers may be rated below investment grade (so-called &#8220;high yield&#8221; or &#8220;junk&#8221; bonds) or unrated. The Fund can invest in securities denominated in any currency and may be subject to the risk of adverse currency fluctuations.<br /><br />For purposes of the Fund&#8217;s policy to invest at least 80% of its Net Assets in securities and instruments of &#8220;emerging market country&#8221; issuers, such countries include but are not limited to those considered to be developing by the World Bank. Generally, the Investment Adviser has broad discretion to identify other countries that it considers to qualify as emerging market countries. The majority of these countries are likely to be located in Africa, Asia, the Middle East, Eastern and Central Europe and Central and South America. Sovereign debt consists of debt securities issued by governments or any of their agencies, political subdivisions or instrumentalities, denominated in the local currency. Sovereign debt may also include nominal and real inflation-linked securities. In determining whether an issuer of corporate debt is in an emerging market country, the Investment Adviser will ordinarily do so by identifying the issuer&#8217;s &#8220;country of risk.&#8221; The issuer&#8217;s &#8220;country of risk&#8221; is determined based on a number of criteria, including its country of domicile, the primary stock exchange on which it trades, the location from which the majority of its revenue comes, and its reporting currency. Although the Investment Adviser will generally rely on an issuer&#8217;s &#8220;country of risk&#8221; as determined by Bloomberg, it is not required to do so.<br /><br />The Fund&#8217;s benchmark index is the Dynamic Emerging Markets Debt Fund Composite Index, which is comprised of the J.P. Morgan Government Bond Index&#8212;Emerging Markets (GBI-EM<sup><small>SM</small></sup><small></small>) Global Diversified Index (Gross, USD, Unhedged) (50%), the J.P. Morgan Emerging Markets Bond Index (EMBI<sup><small>SM</small></sup><small></small>) Global Diversified Index (Gross, USD, Unhedged) (25%), and the J.P. Morgan Corporate Emerging Markets Bond Index (CEMBI<sup><small>SM</small></sup><small></small>) Broad Diversified Index (Gross, USD, Unhedged) (25%).<br /><br />The Fund&#8217;s target duration range under normal interest rate conditions is that of the Dynamic Emerging Markets Debt Fund Composite Index, plus or minus two years, and over the last five years ended June 30, 2017, the duration of the Dynamic Emerging Markets Debt Fund Composite Index has ranged between approximately 5.11 and 5.46 years. &#8220;Duration&#8221; is a measure of a debt security&#8217;s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price is to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security&#8217;s market price.<br /><br />THE FUND IS NON-DIVERSIFIED UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED (THE &#8220;INVESTMENT COMPANY ACT&#8221;), AND MAY INVEST A LARGER PERCENTAGE OF ITS ASSETS IN FEWER ISSUERS THAN DIVERSIFIED MUTUAL FUNDS. <b>Principal Risks of the Fund </b> <b>Investment Objective </b> <b>Expense Example </b> <b>Portfolio Turnover </b> <b>Principal Strategy </b> <b>Performance </b> The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Class C, Institutional, Investor, Class R and Class T Shares compare to those of certain broad-based securities market indices and to the Dynamic Emerging Markets Debt Fund Composite Index, a custom benchmark comprised of the J.P. Morgan Government Bond Index&#8212;Emerging Markets (GBI-EM<sup>SM</sup>) Global Diversified Index (Gross, USD, Unhedged) (50%), the J.P. Morgan Emerging Markets Bond Index (EMBI<sup>SM</sup>) Global Diversified Index (Gross, USD, Unhedged) (25%), and the J.P. Morgan Corporate Emerging Markets Bond Index (CEMBI<sup>SM</sup>) Broad Diversified Index (Gross, USD, Unhedged) (25%). The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.<br /><br />The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown. <b>TOTAL RETURN</b> <b>CALENDAR YEAR (CLASS A)</b> The total return for Class A Shares for the six-month<br/>period ended June 30, 2017<br/>was 8.83%.<br/><br/>Best Quarter<br/> Q1 &#8216;16 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;+7.44%<br/><br/>Worst Quarter<br/> Q3 &#8216;15 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8211;6.48% AVERAGE ANNUAL TOTAL RETURN<br/><br/><b>For the period ended December 31, 2016</b> The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. <b>Goldman Sachs Short Duration Tax-Free Fund&#8212;Summary </b> The Goldman Sachs Short Duration Tax-Free Fund (the &#8220;Fund&#8221;) seeks a high level of current income, consistent with relatively low volatility of principal, that is exempt from regular federal income tax. <b>Fees and Expenses of the Fund </b> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $500,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 38 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 42 and in &#8220;Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts&#8221; on page 72 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.<br /><br />The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Service, Investor and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Service, Investor and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be: The Fund pays transaction costs when it buys and sells securities or instruments (i.e., &#8220;turns over&#8221; its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund&#8217;s performance. The Fund&#8217;s portfolio turnover rate for the fiscal year ended March 31, 2017 was 40% of the average value of its portfolio. The Fund invests, under normal market conditions, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (&#8220;Net Assets&#8221;) in fixed income securities issued by or on behalf of states, territories and possessions of the United States (including the District of Columbia) and the political subdivisions, agencies and instrumentalities thereof (&#8220;Municipal Securities&#8221;), the interest on which is exempt from regular federal income tax (i.e., excluded from gross income for federal income tax purposes), and is not a tax preference item under the federal alternative minimum tax. Under normal market conditions, the Fund&#8217;s investments in private activity bonds and taxable investments will not exceed, in the aggregate, 20% of the Fund&#8217;s Net Assets. The interest from private activity bonds (including the Fund&#8217;s distributions of such interest) may be a preference item for purposes of the federal alternative minimum tax. 100% of the Fund&#8217;s portfolio will be invested in U.S. dollar-denominated securities.<br /><br />The team uses a multi-faceted approach when evaluating whether to add or maintain exposure to any individual position. A top-down approach is used to assess broad macro trends while a bottom-up analysis is used to determine relative value between individual securities. Individual securities will be considered for purchase or sale based on credit profile, risk, structure, pricing, and portfolio impact, as well as duration management, restructuring, opportunistic trading and tax loss harvesting.<br /><br />Under normal interest rate conditions, the Fund&#8217;s duration is expected to approximate that of the Bloomberg Barclays Municipal Bond 1-3 Year Blend Index, plus or minus 0.5 years. (Historically, over the last five years, the duration of the Bloomberg Barclays Municipal Bond 1-3 Year Blend Index has ranged between 2.03 and 2.26 years). The reference to &#8220;Short Duration&#8221; in the Fund&#8217;s name refers to this duration. &#8220;Duration&#8221; is a measure of a debt security&#8217;s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security&#8217;s market price.<br /><br />The Fund&#8217;s benchmark index is the Bloomberg Barclays Municipal Bond 1-3 Year Blend Index. <b>Principal Risks of the Fund </b> Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.<br /><br /><b>Credit/Default Risk.</b>&nbsp; An issuer or guarantor of fixed income securities held by the Fund may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund&#8217;s liquidity and cause significant net asset value (&#8220;NAV&#8221;) deterioration. These risks are more pronounced in connection with the Fund&#8217;s investments in non-investment grade fixed income securities.<br /><br /><b>Geographic and Sector Risk.</b>&nbsp; If the Fund invests a significant portion of its total assets in certain issuers within the same state, geographic region or economic sector, an adverse economic, business, political, environmental or other development affecting that state, region or sector may affect the value of the Fund&#8217;s investments more than if its investments were not so focused.<br /><br /><b>Interest Rate Risk.</b>&nbsp; When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund&#8217;s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.<br /><br /><b>Large Shareholder Transactions Risk.</b>&nbsp; The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund&#8217;s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund&#8217;s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund&#8217;s current expenses being allocated over a smaller asset base, leading to an increase in the Fund&#8217;s expense ratio.<br /><br /><b>Liquidity Risk.</b>&nbsp; The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests, or other reasons. To meet redemption requests, the Fund may be forced to sell securities at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.<br /><br /><b>Market Risk.</b>&nbsp; The value of the securities in which the Fund invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/or general economic conditions throughout the world due to increasingly interconnected global economies and financial markets.<br /><br /><b>Municipal Securities Risk.</b>&nbsp; Municipal Securities are subject to credit/default risk, interest rate risk and certain additional risks. The Fund may be more sensitive to adverse economic, business or political developments if it invests a substantial portion of its assets in the bonds of similar projects (such as those relating to education, health care, housing, transportation, and utilities), industrial development bonds, or in particular types of municipal securities (such as general obligation bonds, private activity bonds and moral obligation bonds). Generally, municipalities continue to experience difficulties in the current economic and political environment.<br /><br /><b>State/Territory Specific Risk.</b>&nbsp; The Fund&#8217;s investments in municipal obligations of issuers located in a particular state or U.S. territory may be adversely affected by political, economic and regulatory developments within that state or U.S. territory. Such developments may affect the financial condition of a state&#8217;s or territory&#8217;s political subdivisions, agencies, instrumentalities and public authorities and heighten the risks associated with investing in bonds issued by such parties, which could, in turn, adversely affect the Fund&#8217;s income, NAV, liquidity, and/or ability to preserve or realize capital appreciation.<br /><br /><b>Tax Risk.</b>&nbsp; Any proposed or actual changes in income tax rates or the tax-exempt status of interest income from Municipal Securities can significantly affect the demand for and supply, liquidity and marketability of Municipal Securities. Such changes may affect the Fund&#8217;s net asset value and ability to acquire and dispose of Municipal Securities at desirable yield and price levels. <b>Performance </b> The bar chart and table on the following page provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Institutional Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Class C, Institutional, Service, Investor and Class T Shares compare to those of a broad-based securities market index. The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.<br /><br />Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown. <b>TOTAL RETURN CALENDAR YEAR (INSTITUTIONAL)</b> The total return for Institutional Shares for the six-month period <br/>ended June 30, 2017 was 1.57%.<br/><br/>Best Quarter<br/> Q1 &#8216;09 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;+2.27%<br/><br/>Worst Quarter<br/> Q4 &#8216;16 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8211;1.27% AVERAGE ANNUAL TOTAL RETURN<br/><br/><b>For the period ended December 31, 2016</b> The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleShareholderFees000032 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleShareholderFees000042 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualFundOperatingExpenses000033 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleTransposed000034 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000035 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualTotalReturnsBarChart000036 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000037 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualFundOperatingExpenses000043 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleTransposed000044 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000045 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualTotalReturnsBarChart000046 column period compact * ~</div> <b>Goldman Sachs Dynamic Municipal Income Fund&#8212;Summary </b> <b>Goldman Sachs High Yield Municipal Fund&#8212;Summary </b> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000047 column period compact * ~</div> <b>Investment Objective </b> The Goldman Sachs High Yield Municipal Fund (the &#8220;Fund&#8221;) seeks a high level of current income that is exempt from regular federal income tax and may also consider the potential for capital appreciation. The Goldman Sachs Dynamic Municipal Income Fund (the &#8220;Fund&#8221;) seeks a high level of current income that is exempt from regular federal income tax. <b>Fees and Expenses of the Fund </b> <b>Fees and Expenses of the Fund </b> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 38 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 42 and in &#8220;Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts&#8221; on page 72 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 38 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 42 and in &#8220;Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts&#8221; on page 72 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). <b>Shareholder Fees<br/>(fees paid directly from your investment) </b> <b>Shareholder Fees<br/>(fees paid directly from your investment) </b> <b>Annual Fund Operating Expenses<br/> (expenses that you pay each year as a percentage of the value of your investment)</b> <b>Annual Fund Operating Expenses<br/> (expenses that you pay each year as a percentage of the value of your investment)</b> <b>Expense Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.<br /><br />The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Investor and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Investor and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be: This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.<br /><br />The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Service, Investor and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Service, Investor and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be: <b>Portfolio Turnover </b> The Fund pays transaction costs when it buys and sells securities or instruments (i.e., &#8220;turns over&#8221; its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund&#8217;s performance. The Fund&#8217;s portfolio turnover rate for the fiscal year ended March 31, 2017 was 31% of the average value of its portfolio. The Fund pays transaction costs when it buys and sells securities or instruments (i.e., &#8220;turns over&#8221; its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund&#8217;s performance. The Fund&#8217;s portfolio turnover rate for the fiscal year ended March 31, 2017 was 28% of the average value of its portfolio. The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (&#8220;Net Assets&#8221;) in fixed income securities issued by or on behalf of states, territories and possessions of the United States (including the District of Columbia) and the political subdivisions, agencies and instrumentalities thereof (&#8220;Municipal Securities&#8221;), the interest on which is exempt from regular federal income tax (i.e., excluded from gross income for federal income tax purposes). The Fund invests, under normal circumstances, a majority of its total assets measured at the time of purchase (&#8220;Total Assets&#8221;) in high-yield Municipal Securities. High-yield securities are securities that, at the time of purchase, are medium quality or non-investment grade. Medium quality securities are rated BBB or Baa by a nationally recognized statistical rating organization (&#8220;NRSRO&#8221;), and non-investment grade securities are securities rated BB+, Ba1 or below by an NRSRO. Non-investment grade securities are commonly known as &#8220;junk bonds.&#8221; The Fund may also invest in unrated securities determined by the Investment Adviser to be of comparable credit quality. The Fund may purchase the securities of issuers that are in default.<br /><br />Under normal circumstances, the Fund may also invest the remainder of its Total Assets in higher grade fixed income securities. In pursuing its principal investment strategy, the Investment Adviser will assess the relative value in the Municipal Securities market from both a credit and yield curve perspective. Individual securities will be considered for purchase or sale based on credit profile, risk, structure, pricing, and portfolio impact, as well as duration management, restructuring, opportunistic trading and tax loss harvesting. Tax-exempt securities offering the high current income sought by the Fund may be predominantly in the lower rating categories of NRSROs (BB+/Ba1 or lower).<br /><br />The Fund may focus its investments in issuers within the same state or economic sector.<br /><br />The Fund may invest up to 100% of its Net Assets in private activity bonds, the interest on which (including the Fund&#8217;s distributions of such interest) may be a preference item for purposes of the federal alternative minimum tax. 100% of the Fund&#8217;s portfolio will be invested in U.S. dollar-denominated securities.<br /><br />The Fund may invest in securities of other investment companies (specifically, registered money market funds) to manage uninvested cash in the portfolio.<br /><br />Under normal interest rate conditions, the Fund&#8217;s duration is expected to approximate that of the Goldman Sachs High Yield Municipal Fund Composite Index (comprised of 40% Bloomberg Barclays Municipal Bond Index and 60% Bloomberg Barclays Municipal High Yield Bond Index), plus or minus two years. (Historically over the last five years, the duration of the Goldman Sachs High Yield Municipal Fund Composite Index has ranged between 6.27 and 7.70 years). &#8220;Duration&#8221; is a measure of a debt security&#8217;s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security&#8217;s market price.<br /><br />The Fund&#8217;s benchmark index is the Goldman Sachs High Yield Municipal Fund Composite Index, which is comprised of the Bloomberg Barclays Municipal Bond Index (40%) and the Bloomberg Barclays Municipal High Yield Bond Index (60%).<br /><br />THE FUND IS NON-DIVERSIFIED UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED (&#8220;INVESTMENT COMPANY ACT&#8221;), AND MAY INVEST A LARGER PERCENTAGE OF ITS ASSETS IN FEWER ISSUERS THAN DIVERSIFIED MUTUAL FUNDS. <b>Principal Strategy </b> <b>Shareholder Fees<br/>(fees paid directly from your investment)</b> <b>Annual Fund Operating Expenses<br/>(expenses that you pay each year as a percentage of the value of your investment) The Fund invests, under normal market conditions, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (&#8220;Net Assets&#8221;) in fixed income securities issued by or on behalf of states, territories and possessions of the United States (including the District of Columbia) and the political subdivisions, agencies and instrumentalities thereof (&#8220;Municipal Securities&#8221;), the interest on which is exempt from regular federal income tax (i.e., excluded from gross income for federal income tax purposes). The Fund may invest up to 100% of its Net Assets in private activity bonds, the interest on which (including the Fund&#8217;s distributions of such interest) may be a preference item for purposes of the federal alternative minimum tax. 100% of the Fund&#8217;s portfolio will be invested in U.S. dollar-denominated securities.<br /><br />The Fund may invest up to 30% of its Net Assets in Municipal Securities that, at the time of purchase, are non-investment grade (commonly referred to as &#8220;junk bonds&#8221;). Non-investment grade securities are securities rated BB+, Ba1 or below by a nationally recognized statistical rating organization (&#8220;NRSRO&#8221;), or, if unrated, determined by the Investment Adviser to be of comparable credit quality. The Fund may purchase the securities of issuers that are in default.<br /><br />The Fund may focus its investments in issuers within the same state or economic sector. The team uses a multi-faceted approach when evaluating whether to add or maintain exposure to any individual position. A top-down approach is used to assess broad macro trends while a bottom-up analysis is used to determine relative value between individual securities. Individual securities will be considered for purchase or sale based on credit profile, risk, structure, pricing, and portfolio impact, as well as duration management, restructuring, opportunistic trading and tax loss harvesting.<br /><br />Under normal interest rate conditions, the Fund&#8217;s duration is expected to range between two and eight years. (Historically, over the last five years, the duration of the Bloomberg Barclays Municipal Bond 1-10 Year Blend Index has been between approximately 3.96 and 4.61 years). &#8220;Duration&#8221; is a measure of a debt security&#8217;s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security&#8217;s market price.<br /><br />The Fund&#8217;s benchmark index is the Bloomberg Barclays Municipal Bond 1-10 Year Blend Index. <b>Shareholder Fees<br/>(fees paid directly from your investment)</b> <b>Annual Fund Operating Expenses<br/>(expenses that you pay each year as a percentage of the value of your investment)</b> <b>Principal Risks of the Fund </b> <b>Principal Risks of the Fund </b> Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.<br /><br /><b>Credit/Default Risk.</b>&nbsp; An issuer or guarantor of fixed income securities held by the Fund (which may have a low credit rating) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund&#8217;s liquidity and cause significant net asset value (&#8220;NAV&#8221;) deterioration. These risks are more pronounced in connection with the Fund&#8217;s investments in non-investment grade fixed income securities.<br /><br /><b>Geographic and Sector Risk.</b>&nbsp; If the Fund invests a significant portion of its total assets in certain issuers within the same state, geographic region or economic sector, an adverse economic, business, political, environmental or other development affecting that state, region or sector may affect the value of the Fund&#8217;s investments more than if its investments were not so focused.<br /><br /><b>Interest Rate Risk.</b>&nbsp; When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund&#8217;s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.<br /><br /><b>Large Shareholder Transactions Risk.</b>&nbsp; The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund&#8217;s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund&#8217;s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund&#8217;s current expenses being allocated over a smaller asset base, leading to an increase in the Fund&#8217;s expense ratio.<br /><br /><b>Liquidity Risk.</b>&nbsp; The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests, or other reasons. To meet redemption requests, the Fund may be forced to sell securities at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.<br /><br /><b>Market Risk.</b>&nbsp; The value of the securities in which the Fund invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/or general economic conditions throughout the world due to increasingly interconnected global economies and financial markets.<br /><br /><b>Municipal Securities Risk.</b>&nbsp; Municipal Securities are subject to credit/default risk, interest rate risk and certain additional risks. The Fund may be more sensitive to adverse economic, business or political developments if it invests a substantial portion of its assets in the bonds of similar projects (such as those relating to education, health care, housing, transportation, and utilities), industrial development bonds, or in particular types of municipal securities (such as general obligation bonds, private activity bonds and moral obligation bonds). Generally, municipalities continue to experience difficulties in the current economic and political environment.<br /><br /><b>Non-Investment Grade Fixed Income Securities Risk.</b>&nbsp; Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as &#8220;junk bonds&#8221;) are considered speculative and are subject to the increased risk of an issuer&#8217;s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity. The Fund may purchase the securities of issuers that are in default.<br /><br /><b>State/Territory Specific Risk.</b>&nbsp; The Fund&#8217;s investments in municipal obligations of issuers located in a particular state or U.S. territory may be adversely affected by political, economic, and regulatory developments within that state or U.S. territory. Such developments may affect the financial condition of a state&#8217;s or territory&#8217;s political subdivisions, agencies, instrumentalities and public authorities and heighten the risks associated with investing in bonds issued by such parties, which could, in turn, adversely affect the Fund&#8217;s income, NAV, liquidity, and/or ability to preserve or realize capital appreciation.<br /><br /><b>Tax Risk.</b>&nbsp; Any proposed or actual changes in income tax rates or the tax-exempt status of interest income from Municipal Securities can significantly affect the demand for and supply, liquidity and marketability of Municipal Securities. Such changes may affect the Fund&#8217;s net asset value and ability to acquire and dispose of Municipal Securities at desirable yield and price levels. Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.<br /><br /><b>Credit/Default Risk.</b>&nbsp; An issuer or guarantor of fixed income securities held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund&#8217;s liquidity and cause significant net asset value (&#8220;NAV&#8221;) deterioration. These risks are more pronounced in connection with the Fund&#8217;s investments in non-investment grade fixed income securities.<br /><br /><b>Geographic and Sector Risk. </b>&nbsp;If the Fund invests a significant portion of its total assets in certain issuers within the same state, geographic region or economic sector, an adverse economic, business, political, environmental or other development affecting that state, region or sector may affect the value of the Fund&#8217;s investments more than if its investments were not so focused.<br /><br /><b>Interest Rate Risk.</b>&nbsp; When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on markets and the Fund&#8217;s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.<br /><br /><b>Large Shareholder Transactions Risk.</b>&nbsp; The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund&#8217;s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund&#8217;s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund&#8217;s current expenses being allocated over a smaller asset base, leading to an increase in the Fund&#8217;s expense ratio.<br /><br /><b>Liquidity Risk.</b>&nbsp; The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests, or other reasons. To meet redemption requests, the Fund may be forced to sell securities at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.<br /><br /><b>Market Risk.</b>&nbsp; The value of the securities in which the Fund invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/or general economic conditions throughout the world due to increasingly interconnected global economies and financial markets.<br /><br /><b>Municipal Securities Risk.</b>&nbsp; Municipal Securities are subject to credit/default risk, interest rate risk and certain additional risks. The Fund may be more sensitive to adverse economic, business or political developments if it invests a substantial portion of its assets in the bonds of similar projects (such as those relating to education, health care, housing, transportation, and utilities), industrial development bonds, or in particular types of municipal securities (such as general obligation bonds, private activity bonds and moral obligation bonds). Generally, municipalities continue to experience difficulties in the current economic and political environment.<br /><br /><b>Non-Diversification Risk.</b>&nbsp; The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than a diversified mutual fund. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.<br /><br /><b>Non-Investment Grade Fixed Income Securities Risk.</b>&nbsp; Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as &#8220;junk bonds&#8221;) are considered speculative and are subject to the increased risk of an issuer&#8217;s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity. The Fund may purchase the securities of issuers that are in default.<br /><br /><b>State/Territory Specific Risk.</b>&nbsp; The Fund&#8217;s investments in municipal obligations of issuers located in a particular state or U.S. territory may be adversely affected by political, economic and regulatory developments within that state or U.S. territory. Such developments may affect the financial condition of a state&#8217;s or territory&#8217;s political subdivisions, agencies, instrumentalities and public authorities and heighten the risks associated with investing in bonds issued by such parties, which could, in turn, adversely affect the Fund&#8217;s income, NAV, liquidity, and/or ability to preserve or realize capital appreciation.<br /><br /><b>Tax Risk.</b>&nbsp; Any proposed or actual changes in income tax rates or the tax-exempt status of interest income from Municipal Securities can significantly affect the demand for and supply, liquidity and marketability of Municipal Securities. Such changes may affect the Fund&#8217;s net asset value and ability to acquire and dispose of Municipal Securities at desirable yield and price levels. <b>Performance </b> <b>Performance </b> The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Institutional Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Class C, Institutional, Investor and Class T Shares compare to those of certain broad-based securities market indices and to the Goldman Sachs High Yield Municipal Fund Composite Index, a custom benchmark comprised of the Bloomberg Barclays Municipal Bond Index (40%) and the Bloomberg Barclays Municipal High Yield Bond Index (60%). The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.<br /><br />Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown. The bar chart and table on the following page provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Institutional Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Class C, Institutional, Service, Investor and Class T Shares compare to those of a broad-based securities market index. The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.<br /><br />Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown. <b>TOTAL RETURN CALENDAR YEAR (INSTITUTIONAL)</b> <b>TOTAL RETURN CALENDAR YEAR (INSTITUTIONAL)</b> The total return for Institutional Shares for the six-month period <br/>ended June 30, 2017 was 6.23%.<br/><br/>Best Quarter<br/> Q3 &#8216;09 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;+16.87%<br/><br/>Worst Quarter<br/> Q4 &#8216;08 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8211;22.35% The total return for Institutional Shares for the six-month period <br/>ended June 30, 2017 was 3.74%.<br/><br/>Best Quarter<br/> Q3 &#8216;09 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;+10.05%<br/><br/>Worst Quarter<br/> Q4 &#8216;08 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8211;5.89% AVERAGE ANNUAL TOTAL RETURN<br/><br/><b>For the period ended December 31, 2016 </b> AVERAGE ANNUAL TOTAL RETURN<br/><br/><b>For the period ended December 31, 2016 </b> The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. 0.0375 0 0 0 0.025 0 0.01 0 0 0 0 0.01 0 0 0 0 0 0.0052 0.0052 0.0052 0.0052 0.0052 0.004 0.004 0.004 0.004 0.004 0.004 0.0025 0.0075 0 0.0025 0 0.0025 0.0075 0 0.0025 0 0.0025 0.0015 0.004 0.0006 0.0015 0.0015 0.0018 0.0043 0.0009 0.0034 0.0018 0.0018 0 0.0025 0 0 0 0 0 0.0025 0 0 0 0 0 0 0.0025 0 0 0.0015 0.0015 0.0006 0.0015 0.0015 0.0018 0.0018 0.0009 0.0009 0.0018 0.0018 0.0092 0.0167 0.0058 0.0067 0.0092 0.0083 0.0158 0.0049 0.0099 0.0058 0.0083 -0.0007 -0.0007 -0.0002 -0.0007 -0.0007 -0.0008 -0.0008 -0.0008 -0.0008 -0.0008 -0.0008 0.0085 0.016 0.0056 0.006 0.0085 0.0075 0.015 0.0041 0.0091 0.005 0.0075 0.015 0 0 0 0 0.025 0 0.0065 0 0 0 0 <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleShareholderFees000092 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualFundOperatingExpenses000093 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleTransposed000094 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000097 column period compact * ~</div> 0.0035 0.0035 0.0035 0.0035 0.0035 0.0035 0.0025 0.0075 0 0.0025 0 0.0025 0.0015 0.004 0.0006 0.0031 0.0015 0.0015 0 0 0.0025 0 0 0 0 0 0 0.0025 0 0 0.0015 0.0015 0.0006 0.0006 0.0015 0.0015 0.0075 0.015 0.0041 0.0091 0.005 0.0075 -0.0006 -0.0041 -0.0002 -0.0002 -0.0006 -0.0006 0.0069 0.0109 0.0039 0.0089 0.0044 0.0069 <b>Goldman Sachs Local Emerging Markets Debt Fund&#8212;Summary </b> <b>Goldman Sachs Investment Grade Credit Fund&#8212;Summary </b> <b>Investment Objective </b> <b>Investment Objective </b> The Goldman Sachs Investment Grade Credit Fund (the &#8220;Fund&#8221;) seeks a high level of total return consisting of capital appreciation and income that exceeds the total return of the Bloomberg Barclays U.S. Credit Index. The Goldman Sachs Local Emerging Markets Debt Fund (the &#8220;Fund&#8221;) seeks a high level of total return consisting of income and capital appreciation. <b>Fees and Expenses of the Fund </b> <b>Fees and Expenses of the Fund </b> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 71 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 75 and in Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 71 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 75 and in Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). <b>Expense Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.<br /><br />The Example assumes that you invest $10,000 in Class A, Institutional, Investor, Separate Account Institutional, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Institutional, Investor, Separate Account Institutional, Class R6 and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same (except that the Example incorporates the expense limitation arrangement for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be: <b>Shareholder Fees<br />(fees paid directly from your investment)</b> <b>Annual Fund Operating Expenses<br />(expenses that you pay each year as a percentage of the value of your investment) </b> 0.0375 0 0 0 0 0.025 0.045 0 0 0 0.025 0 0 0 0 0 0 219 176 40 91 45 319 380 434 288 130 154 478 555 780 228 274 502 651 1061 1755 1118 516 622 1152 111 434 780 1755 449 253 42 93 51 325 0 0.01 0 0 0 623 491 149 308 178 501 811 853 267 540 317 692 -0.02 -0.02 -0.02 -0.02 -0.02 1356 1873 610 1207 720 1244 163 520 901 1970 153 491 853 1873 0.0034 0.0034 0.0034 0.0034 0.0034 0.0034 0.0025 0 0 0 0 0.0025 0.0022 0.0013 0.0022 0.0013 0.0012 0.0022 0.0375 0.0267 0.0619 0.0081 0.0047 0.0056 0.0047 0.0046 0.0081 0.0191 0.036 -0.0008 -0.0008 -0.0008 -0.0008 -0.0008 -0.0008 0.0217 0.0013 0.0073 0.0039 0.0048 0.0039 0.0038 0.0073 0.0184 0.0073 0.0025 total return 2017-06-30 0.0157 Best Quarter 2009-03-31 0.0227 Worst Quarter Assuming complete redemption at end of period 2016-12-31 Assuming complete redemption at end of period Assuming no redemption Assuming no redemption -0.0156 -0.0156 -0.0047 0.0018 -0.0111 0.0018 0.0025 0.0018 -0.0034 0.0018 0.0018 0.0018 -0.0256 0.0018 -0.0678 -0.003 -0.2979 -0.1068 0.2903 0.2013 0.0525 0.0281 0.1025 0.1125 0.1625 0.1031 -0.0545 -0.0398 0.1555 0.1053 0.0399 0.0201 0.0338 0.0138 <b>Investment Objective </b> <b>Expense Example </b> <b>Portfolio Turnover </b> <b>Principal Strategy </b> <b>Investment Objective </b> <b>Expense Example </b> <b>Portfolio Turnover </b> <b>Principal Strategy </b> 0.0038 0.0037 0.0094 0.0051 0.0094 0.0028 0.0094 0.0102 0.005 0.0094 0.0093 0.0094 0.0017 0.0094 0.018 0.0179 0.0177 0.024 0.0141 0.024 0.0231 0.0179 0.024 0.024 0.024 0.017 0.0254 0.0253 0.025 0.0312 0.0189 0.0306 0.0321 0.0266 0.0337 0.0121 0.0111 0.0249 0.0312 1997-05-01 1997-05-01 1997-05-01 1997-08-15 1997-05-01 1997-08-15 1992-10-01 1992-10-01 1994-09-20 1994-09-20 2010-07-30 2010-07-30 2017-07-28 2017-07-28 0.008 0.008 0.008 0.008 0.008 -0.0158 -0.0168 0.0025 0.0075 0 0 0.0025 0.0031 0.0056 0.0022 0.0031 0.0031 0 0.0025 0 0 0 0.0031 0.0031 0.0022 0.0031 0.0031 -0.0273 -0.0274 -0.0017 -0.001 -0.007 0.0138 -0.001 -0.001 0.0083 -0.001 0.013 -0.001 -0.0273 -0.001 0.0277 0.0275 0.0294 0.0203 0.0203 0.0278 0.0203 0.039 0.0337 0.0203 0.0382 0.0203 0.0277 0.0203 0.0327 0.0325 0.0369 0.0336 0.0289 0.0369 0.0401 0.0346 0.0369 0.0327 0.0369 0.0448 0.0442 0.0439 0.0359 0.0444 0.0419 0.0474 0.0419 0.0423 0.0425 0.0261 0.0448 0.0444 <b>Portfolio Turnover </b> 0.0136 0.0211 0.0102 0.0111 0.0136 The Fund pays transaction costs when it buys and sells securities or instruments (i.e., &#8220;turns over&#8221; its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund&#8217;s performance. The Fund&#8217;s portfolio turnover rate for the fiscal year ended March 31, 2017 was 63% of the average value of its portfolio. -0.0014 -0.0014 -0.001 -0.0014 -0.0014 <b>Principal Strategy </b> 1993-07-20 1993-07-20 1993-07-20 1993-07-20 1997-08-15 1997-08-15 1997-08-15 1997-08-15 1997-08-15 1997-08-15 2010-07-30 2017-07-28 2017-07-28 2010-07-30 The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (&#8220;Net Assets&#8221;) in investment grade fixed income securities. Investment grade securities are securities that are rated at the time of purchase at least BBB&#8211; by Standard &amp; Poor&#8217;s Ratings Services (&#8220;Standard &amp; Poor&#8217;s&#8221;), at least Baa3 by Moody&#8217;s Investors Service, Inc. (&#8220;Moody&#8217;s&#8221;), or have a comparable credit rating by another nationally recognized statistical rating organization (&#8220;NRSRO&#8221;) or, if unrated, are determined by the Investment Adviser to be of comparable credit quality. The Fund may invest in corporate securities, securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises (&#8220;U.S. Government Securities&#8221;), securities representing direct or indirect interests in or that are collateralized by adjustable rate and fixed rate mortgage loans or other mortgage-related securities (&#8220;Mortgage-Backed Securities&#8221;), asset-backed securities, and fixed income securities issued by or on behalf of states, territories and possessions of the United States (including the District of Columbia) and the political subdivisions, agencies and instrumentalities thereof (&#8220;Municipal Securities&#8221;). The Fund also intends to invest in derivatives, including (but not limited to) interest rate futures, interest rate swaps and credit default swaps, which are used primarily to hedge the Fund&#8217;s portfolio risks, manage the Fund&#8217;s duration and/or gain exposure to certain fixed income securities or indices. Although the Fund may invest without limit in foreign securities, the Fund&#8217;s investments in non-U.S. dollar denominated obligations (hedged or unhedged against currency risk) will not exceed 25% of its total assets at the time of investment, and 10% of the Fund&#8217;s total assets may be invested in obligations of emerging countries. Additionally, exposure to non-U.S. currencies (unhedged against currency risk) will not exceed 25% of the Fund&#8217;s total assets. In pursuing its investment objective, the Fund uses the Bloomberg Barclays U.S. Credit Index as its performance benchmark, but the Fund will not attempt to replicate the Bloomberg Barclays U.S. Credit Index. The Fund may, therefore, invest in securities that are not included in the Bloomberg Barclays U.S. Credit Index.<br /><br />The Fund&#8217;s target duration range under normal interest rate conditions is expected to approximate that of the Bloomberg Barclays U.S. Credit Index, plus or minus one year, and over the last five years ended June 30, 2017, the duration of this Index has ranged between 6.63 and 7.37 years. &#8220;Duration&#8221; is a measure of a debt security&#8217;s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security&#8217;s market price.<br /><br />The Fund&#8217;s portfolio management team seeks to build a portfolio consisting of their &#8220;best ideas&#8221; across the investment grade credit market consistent with the Fund&#8217;s overall risk budget and the views of the Investment Adviser&#8217;s Global Fixed Income top-down teams. As market conditions change, the volatility and attractiveness of sectors, securities and strategies can change as well. To optimize the Fund&#8217;s risk/return potential within its long-term risk budget, the portfolio management team may dynamically adjust the mix of top-down and bottom-up strategies in the Fund&#8217;s portfolio.<br /><br />The Fund&#8217;s benchmark index is the Bloomberg Barclays U.S. Credit Index. 0.0122 0.0197 0.0092 0.0097 0.0122 <b>Principal Risks of the Fund </b> Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.<ul type="square"><li><b>Credit/Default Risk.</b> &nbsp;An issuer or guarantor of fixed income securities or instruments held by the Fund may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund&#8217;s liquidity and cause significant deterioration in net asset value (&#8220;NAV&#8221;).</li><li><b>Derivatives Risk.</b> &nbsp;The Fund&#8217;s use of interest rate futures, interest rate swaps, credit default swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligations. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund&#8217;s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund&#8217;s ability to invest in derivatives and other instruments and adversely affect the Fund&#8217;s performance and ability to pursue its investment objectives.</li><li><b>Foreign Risk.</b> &nbsp;Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls, sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States or other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time.</li><li><b>Interest Rate Risk.</b> &nbsp;When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rate are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund&#8217;s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.</li><li><b>Large Shareholder Transactions Risk.</b> &nbsp;The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund&#8217;s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund&#8217;s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund&#8217;s current expenses being allocated over a smaller asset base, leading to an increase in the Fund&#8217;s expense ratio.</li><li><b>Municipal Securities Risk.</b> &nbsp;Municipal Securities are subject to credit/default risk, interest rate risk and certain additional risks. The Fund may be more sensitive to adverse economic, business or political developments if it invests a substantial portion of its assets in the bonds of similar projects (such as those relating to education, health care, housing, transportation, and utilities), industrial development bonds, or in particular types of municipal securities (such as general obligation bonds, private activity bonds and moral obligation bonds).</li><li><b>U.S. Government Securities Risk.</b> &nbsp;The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by the Federal National Mortgage Association (&#8220;Fannie Mae&#8221;), Federal Home Loan Mortgage Corporation (&#8220;Freddie Mac&#8221;) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including their legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future.</li></ul> <b>Goldman Sachs Core Fixed Income Fund&#8212;Summary </b> The Goldman Sachs Core Fixed Income Fund (the &#8220;Fund&#8221;) seeks a total return consisting of capital appreciation and income that exceeds the total return of the Bloomberg Barclays U.S. Aggregate Bond Index (the &#8220;Index&#8221;). <b>Fees and Expenses of the Fund </b> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 49 and &#8220;Shareholder Guide-Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 53 and in Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts on page 90 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). <b>Investment Objective </b> <b>Expense Example </b> <b>Portfolio Turnover </b> <b>Principal Strategy </b> 0.0375 0 0 0 0 0 0 0.025 0 0.01 0 0 0 0 0 0 <b>Performance </b> <b>Goldman Sachs Bond Fund&#8212;Summary </b> The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Institutional, Investor, Separate Account Institutional, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.<br /><br />The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown. <b>Goldman Sachs U.S. Mortgages Fund&#8212;Summary </b> <b>Investment Objective </b> The Goldman Sachs U.S. Mortgages Fund (the &#8220;Fund&#8221;) seeks a high level of total return consisting of income and capital appreciation. <b>Fees and Expenses of the Fund </b> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 71 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 75 and in Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). -0.0158 <b>Expense Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.<br /><br />The Example assumes that you invest $10,000 in Class A, Institutional, Investor, Separate Account Institutional, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Institutional, Investor, Separate Account Institutional, Class R6 and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be: <b>TOTAL RETURN CALENDAR YEAR (CLASS A)</b> <b>Investment Objective </b> <b>Expense Example </b> <b>Portfolio Turnover </b> <b>Principal Strategy </b> <b>Goldman Sachs Strategic Income Fund&#8212;Summary </b> <b>Investment Objective </b> The total return for Class A Shares for the six-month period ended<br />June 30, 2017 was 3.72%.<br /><br />Best Quarter<br />Q2 &#8216;09 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;+10.01%<br /><br />Worst Quarter<br />Q3 &#8216;08 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8211;8.21% The Goldman Sachs Strategic Income Fund (the &#8220;Fund&#8221;) seeks total return comprised of income and capital appreciation. <b>Fees and Expenses of the Fund </b> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 49 and &#8220;Shareholder Guide-Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 53 and in Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts on page 90 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). <b>Portfolio Turnover </b> The Fund pays transaction costs when it buys and sells securities or instruments (i.e., &#8220;turns over&#8221; its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund&#8217;s performance. The Fund&#8217;s portfolio turnover rate for the fiscal year ended March 31, 2017 was 863% of the average value of its portfolio. <b>Expense Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.<br /><br />The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Investor, Class R, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Investor, Class R, Class R6 and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: <b>Principal Strategy </b> The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (&#8220;Net Assets&#8221;) in securities representing direct or indirect interests in or that are collateralized by adjustable rate and fixed rate mortgage loans or other mortgage-related securities (&#8220;Mortgage-Backed Securities&#8221;) of U.S. issuers. The Fund may also invest in mortgage dollar rolls, securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises (&#8220;U.S. Government Securities&#8221;), asset-backed securities and foreign securities. The Fund also intends to invest in derivatives, including (but not limited to) interest rate futures, interest rate swaps and credit default swaps, primarily to manage the Fund&#8217;s duration, hedge the Fund&#8217;s portfolio risks, and/or gain exposure to certain fixed income securities.<br /><br />The Fund&#8217;s investments must be rated, at the time of purchase, at least BBB&#8211; by Standard &amp; Poor&#8217;s Ratings Services (&#8220;Standard &amp; Poor&#8217;s&#8221;), at least Baa3 by Moody&#8217;s Investors Service, Inc. (&#8220;Moody&#8217;s&#8221;), or have a comparable credit rating by another nationally recognized statistical rating organization (&#8220;NRSRO&#8221;) or, if unrated, must be determined by the Investment Adviser to be of comparable credit quality.<br /><br />The Fund&#8217;s target duration range under normal interest rate conditions is expected to approximate that of the Bloomberg Barclays U.S. Securitized Bond Index plus or minus 0.5 years, and over the past five years ended June 30, 2017, the duration of this Index has ranged between 2.26 and 5.02 years. &#8220;Duration&#8221; is a measure of a debt security&#8217;s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security&#8217;s market price.<br /><br />The Fund&#8217;s portfolio managers seek to build a portfolio consisting of their &#8220;best ideas&#8221; across the U.S. mortgages market consistent with the Fund&#8217;s overall risk budget and the views of the Investment Adviser&#8217;s Global Fixed Income top-down teams. As market conditions change, the volatility and attractiveness of sectors, securities and strategies can change as well. To optimize the Fund&#8217;s risk/return potential within its long-term risk budget, the portfolio managers may dynamically adjust the mix of top-down and bottom-up strategies in the Fund&#8217;s portfolio.<br /><br />The Fund&#8217;s benchmark index is the Bloomberg Barclays U.S. Securitized Bond Index. <b>Portfolio Turnover </b> <b>Investment Objective </b> The Fund pays transaction costs when it buys and sells securities or instruments (i.e., &#8220;turns over&#8221; its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in the annual fund operating expenses or in the expense example above, but are reflected in the Fund&#8217;s performance. The Fund&#8217;s portfolio turnover rate for the fiscal year ended March 31, 2017 was 184% of the average value of its portfolio. Assuming complete redemption at end of period The Goldman Sachs Bond Fund (the &#8220;Fund&#8221;) seeks a total return consisting of capital appreciation and income that exceeds the total return of the Bloomberg Barclays U.S. Aggregate Bond Index (the &#8220;Index&#8221;). <b>Fees and Expenses of the Fund </b> <b>Principal Strategy </b> Assuming no redemption This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 49 and &#8220;Shareholder Guide-Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 53 and in Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts on page 90 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). The Fund invests in a broadly diversified portfolio of U.S. and foreign investment grade and non-investment grade fixed income investments including, but not limited to: U.S. Government securities (such as U.S. Treasury securities or Treasury inflation protected securities), non-U.S. sovereign debt, agency securities, corporate debt securities, agency and non-agency mortgage-backed securities, asset-backed securities, custodial receipts, municipal securities, loan participations and loan assignments and convertible securities. The Fund&#8217;s investments in loan participations and loan assignments may include, but are not limited to: (a) senior secured floating rate and fixed rate loans or debt (&#8220;Senior Loans&#8221;), (b) second lien or other subordinated or unsecured floating rate and fixed rate loans or debt (&#8220;Second Lien Loans&#8221;) and (c) other types of secured or unsecured loans with fixed, floating or variable interest rates. The Fund may invest in fixed income securities of any maturity.<br /><br />Non-investment grade fixed income securities are securities rated BB+, Ba1 or below by a nationally recognized statistical rating organization (&#8220;NRSRO&#8221;), or, if unrated, determined by the Investment Adviser to be of comparable credit quality.<br /><br />The Fund may invest in sovereign and corporate debt securities and other instruments of issuers in emerging market countries (&#8220;emerging countries debt&#8221;). Such investments may include sovereign debt issued by emerging countries that have sovereign ratings below investment grade or that are unrated. There is no limitation to the amount the Fund invests in non-investment grade or emerging market securities. From time to time, the Fund may also invest in preferred stock. The Fund&#8217;s investments may be denominated in currencies other than the U.S. dollar.<br /><br />The Fund may engage in forward foreign currency transactions for both hedging and non-hedging purposes. The Fund also intends to invest in other derivative instruments. Derivatives are instruments that have a value based on another instrument, exchange rate, interest rate or index. The Fund&#8217;s investments in derivatives may include, in addition to forward foreign currency exchange contracts, futures contracts (including interest rate futures and treasury and sovereign bond futures), options (including options on futures contracts, swaps, bonds, stocks and indexes), swaps (including credit default, index, basis, total return, volatility, interest rate and currency swaps), and other forward contracts. The Fund may use derivatives instead of buying and selling bonds to manage duration, to gain exposure or to short individual securities or to gain exposure to a credit or asset backed index.<br /><br />The Fund may implement short positions and may do so by using swaps or futures, or through short sales of any instrument that the Fund may purchase for investment. For example, the Fund may enter into a futures contract pursuant to which it agrees to sell an asset (that it does not currently own) at a specified price at a specified point in the future. This gives the Fund a short position with respect to that asset. The Fund will benefit to the extent the asset decreases in value (and will be harmed to the extent the asset increases in value) between the time it enters into the futures contract and the agreed date of sale. Alternatively, the Fund may sell an instrument (e.g., a bond, or a futures contract) it does not own in anticipation of a decline in the market value of the instrument, and then borrow the instrument to make delivery to the buyer. In these transactions, the Fund is obligated to replace the instrument borrowed by purchasing it at the market price at the time of replacement.<br /><br />&#8220;Strategic&#8221; in the Fund&#8217;s name means that the Fund seeks both current income and capital appreciation as elements of total return. The Fund attempts to exploit pricing anomalies throughout the global fixed income and currency markets. Additionally, the Fund uses short positions and derivatives for both investment and hedging purposes. The Fund may sell investments that the portfolio managers believe are no longer favorable with regard to these factors.<br /><br />The Fund&#8217;s benchmark index is the Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index. <b>Investment Objective </b> <b>Expense Example </b> <b>Portfolio Turnover </b> <b>Principal Strategy </b> <b>Expense Example </b> July 28, 2018 <b>Principal Risks of the Fund </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.<br /><br />The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and/or Class T Shares at the end of those periods, unless otherwise stated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same (except that the Example incorporates the expense limitation arrangement for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be: 0.4 <b>Loss of money is a risk of investing in the Fund. The Investment Adviser will not manage the investment program of the Fund by reference to a benchmark index (i.e., unconstrained). By removing benchmark constraints, the Fund is able to invest across the global fixed income spectrum without regard to sector, quality, maturity or market capitalization limitations, including in asset classes in which more traditional or benchmark-constrained fixed income funds do not typically invest (or do not invest to such an extent). Due to this flexible strategy, the Fund&#8217;s risk exposure may vary, and the Fund may underperform traditional fixed income indices. There can be no assurance that the discretionary element of the investment processes of the Investment Adviser will be exercised in a manner that is successful or that is not adverse to the Fund, or that the Fund will outperform more traditional or benchmark-constrained fixed income funds. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing. </b><br/><br/><b>Credit/Default Risk.</b>&nbsp;&nbsp;An issuer or guarantor of fixed income securities or instruments held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund's liquidity and cause significant deterioration in net asset value ("NAV"). These risks are more pronounced in connection with the Fund's investments in non-investment grade fixed income securities.<br /><br /><b>Derivatives Risk.</b>&nbsp;&nbsp;The Fund's use of options, futures, forwards, swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. Foreign exchange rates can be extremely volatile and a variance in the degree of volatility of the market or in the direction of the market from the Investment Adviser's expectations for non-hedging forward foreign currency transactions may produce significant losses to the Fund. In December 2015, the SEC proposed new regulations relating to a mutual fund's use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund's ability to invest in derivatives and other instruments and adversely affect the Fund's performance and ability to pursue its investment objectives.<br /><br /><b>Floating and Variable Rate Obligations Risk.</b>&nbsp;&nbsp;For floating and variable rate obligations, there may be a lag between an actual change in the underlying interest rate benchmark and the reset time for an interest payment of such an obligation, which could harm or benefit the Fund, depending on the interest rate environment or other circumstances. In a rising interest rate environment, for example, a floating or variable rate obligation that does not reset immediately would prevent the Fund from taking full advantage of rising interest rates in a timely manner. However, in a declining interest rate environment, the Fund may benefit from a lag due to an obligation&#8217;s interest rate payment not being immediately impacted by a decline in interest rates.<br /><br />Certain floating and variable rate obligations have an interest rate floor feature, which prevents the interest rate payable by the security from dropping below a specified level as compared to a reference interest rate (the &#8220;reference rate&#8221;), such as LIBOR. Such a floor protects the Fund from losses resulting from a decrease in the reference rate below the specified level. However, if the reference rate is below the floor, there will be a lag between a rise in the reference rate and a rise in the interest rate payable by the obligation, and the Fund may not benefit from increasing interest rates for a significant amount of time.<br /><br /><b>Foreign and Emerging Countries Risk.</b>&nbsp;&nbsp;Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls (including repatriation restrictions), sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. These risks may be more pronounced in connection with the Fund's investments in securities of issuers located in emerging countries.<br /><br /><b>Interest Rate Risk.</b>&nbsp;&nbsp;When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rate are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund's investments. Fluctuations in interest rates may also affect the yield and liquidity of fixed income securities and instruments held by the Fund.<br /><br /><b>Large Shareholder Transactions Risk.</b>&nbsp;&nbsp;The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund&#8217;s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund&#8217;s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund&#8217;s current expenses being allocated over a smaller asset base, leading to an increase in the Fund&#8217;s expense ratio.<br /><br /><b>Liquidity Risk.</b>&nbsp;&nbsp;The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests or other reasons. To meet redemption requests, the Fund may be forced to sell securities at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.<br /><br /><b>Loan-Related Investments Risk</b>.&nbsp;&nbsp;In addition to risks generally associated with debt investments, loan-related investments such as loan participations and assignments are subject to other risks. Although a loan obligation may be fully collateralized at the time of acquisition, the collateral may decline in value, be relatively illiquid, or lose all or substantially all of its value subsequent to investment. Many loan investments are subject to legal or contractual restrictions on resale and may be relatively illiquid and difficult to value. There is less readily available, reliable information about most loan investments than is the case for many other types of securities. Substantial increases in interest rates may cause an increase in loan obligation defaults. With respect to loan participations, the Fund may not always have direct recourse against a borrower if the borrower fails to pay scheduled principal and/or interest; may be subject to greater delays, expenses and risks than if the Fund had purchased a direct obligation of the borrower; and may be regarded as the creditor of the agent lender (rather than the borrower), subjecting the Fund to the creditworthiness of that lender as well. Investors in loans, such as the Fund, may not be entitled to rely on the anti-fraud protections of the federal securities laws, although they may be entitled to certain contractual remedies. The market for loan obligations may be subject to irregular trading activity, wide bid/ask spreads and extended trade settlement periods. Because transactions in many loans are subject to extended trade settlement periods, the Fund may not receive the proceeds from the sale of a loan for a period after the sale. As a result, sale proceeds related to the sale of loans may not be available to make additional investments or to meet the Fund&#8217;s redemption obligations for a period after the sale of the loans, and, as a result, the Fund may have to sell other investments or engage in borrowing transactions, such as borrowing from its credit facility, if necessary to raise cash to meet its obligations.<br /><br />Senior Loans hold the most senior position in the capital structure of a business entity, and are typically secured with specific collateral, but are nevertheless usually rated below investment grade. Because Second Lien Loans are subordinated or unsecured and thus lower in priority of payment to Senior Loans, they are subject to the additional risk that the cash flow of the borrower and property securing the loan or debt, if any, may be insufficient to meet scheduled payments after giving effect to the senior secured obligations of the borrower. Second Lien Loans generally have greater price volatility than Senior Loans and may be less liquid.<br /><br /><b>Management Risk</b>.&nbsp;&nbsp;A strategy used by the Investment Adviser may fail to produce the intended results.<br /><br /><b>Market Risk.</b>&nbsp;&nbsp;The value of the securities in which the Fund invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/or general economic conditions throughout the world due to increasingly interconnected global economies and financial markets.<br /><br /><b>Mortgage-Backed and Other Asset-Backed Securities Risk.</b>&nbsp;&nbsp;Mortgage-related and other asset-backed securities are subject to certain additional risks, including &#8220;extension risk&#8221; (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and &#8220;prepayment risk&#8221; (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Mortgage-backed securities offered by non-governmental issuers are subject to other risks as well, including failures of private insurers to meet their obligations and unexpectedly high rates of default on the mortgages backing the securities. Other asset-backed securities are subject to risks similar to those associated with Mortgage-backed securities, as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.<br /><br /><b>Municipal Securities Risk.</b>&nbsp;&nbsp;Municipal securities are subject to credit/default risk, interest rate risk and certain additional risks. The Fund may be more sensitive to adverse economic, business, political, environmental or other developments if it invests a substantial portion of its assets in the bonds of similar projects (such as those relating to education, health care, housing, transportation, and utilities), industrial development bonds, or in particular types of municipal securities (such as general obligation bonds, private activity bonds and moral obligation bonds). Generally, municipalities continue to experience difficulties in the current economic and political environment.<br /><br /><b>Non-Investment Grade Fixed Income Securities Risk.</b>&nbsp;&nbsp;Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as &#8220;junk bonds&#8221;) are considered speculative and are subject to the increased risk of an issuer&#8217;s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity.<br /><br /><b>Short Position Risk.</b>&nbsp;&nbsp;The Fund may enter into a short position through a futures contract, an option or swap agreement or through short sales of any instrument that the Fund may purchase for investment. Taking short positions involves leverage of the Fund&#8217;s assets and presents various risks. If the value of the underlying instrument or market in which the Fund has taken a short position increases, then the Fund will incur a loss equal to the increase in value from the time that the short position was entered into plus any related interest payments or other fees. Taking short positions involves the risk that losses may be disproportionate, may exceed the amount invested and may be unlimited.<br /><br /><b>Sovereign Default Risk.</b>&nbsp;&nbsp;An issuer of non-U.S. sovereign debt held by the Fund or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay the principal or interest when due. This may result from political or social factors, the general economic environment of a country or levels of foreign debt or foreign currency exchange rates.<br /><br /><b>U.S. Government Securities Risk.</b>&nbsp;&nbsp;The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by the Federal National Mortgage Association (&#8220;Fannie Mae&#8221;), Federal Home Loan Mortgage Corporation (&#8220;Freddie Mac&#8221;) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including their legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future. <b>Goldman Sachs High Yield Fund&#8212;Summary </b> 2000-04-30 2000-04-30 2000-04-30 2000-04-30 2000-04-30 2000-04-30 2000-04-30 2000-04-30 2000-04-30 2000-04-30 2000-04-30 2000-04-30 2000-04-30 2010-07-30 2010-07-30 2010-07-30 2017-07-28 2017-07-28 2017-07-28 2017-07-28 2010-07-30 2000-04-30 <b>Goldman Sachs Emerging Markets Debt Fund&#8212;Summary </b> The Goldman Sachs High Yield Fund (the &#8220;Fund&#8221;) seeks a high level of current income and may also consider the potential for capital appreciation. The Goldman Sachs Emerging Markets Debt Fund (the &#8220;Fund&#8221;) seeks a high level of total return consisting of income and capital appreciation. <b>Performance </b> A contingent deferred sales charge ("CDSC") of 0.65% is imposed on Class C Shares redeemed within 12 months of purchase. <b>Fees and Expenses of the Fund </b> <b>Fees and Expenses of the Fund </b> The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Class C, Institutional, Investor, Class R, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.<br /><br />The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $500,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 38 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 42 and in &#8220;Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts&#8221; on page 72 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 71 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 75 and in Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 71 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 75 and in Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). The after-tax returns are for Class A Shares only. The after-tax returns for Institutional, Investor, Separate Account Institutional and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.<br /><br />The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Investor, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Investor, Class R6 and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same (except that the Example incorporates the expense limitation arrangement for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be: This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.<br /><br />The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be: The Fund's "Management Fees" have been restated to reflect current fees.<br/><br/>The Fund's "Total Annual Fund Operating Expenses After Fee Waiver and Expense Limitation" have been restated to reflect the fee waiver and expense limitation currently in effect. The "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year. <b>Shareholder Fees<br/>(fees paid directly from your investment) </b> The Fund pays transaction costs when it buys and sells securities or instruments (i.e., &#8220;turns over&#8221; its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund&#8217;s performance. The Fund&#8217;s portfolio turnover rate for the fiscal year ended March 31, 2017 was 89% of the average value of its portfolio. The Fund pays transaction costs when it buys and sells securities or instruments (i.e., &#8220;turns over&#8221; its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund&#8217;s performance. The Fund&#8217;s portfolio turnover rate for the fiscal year ended March 31, 2017 was 93% of the average value of its portfolio. Loss of money is a risk of investing in the Fund. The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (&#8220;Net Assets&#8221;) in sovereign and corporate debt securities and other instruments of issuers in emerging market countries. Such instruments may include credit linked notes and other investments with similar economic exposures.<br /><br />The Fund&#8217;s portfolio managers seek to build a portfolio across the emerging markets debt market consistent with the Fund&#8217;s overall risk budget and the views of the Investment Adviser&#8217;s Global Fixed Income top-down teams. As market conditions change, the volatility and attractiveness of sectors, securities and strategies can change as well. To optimize the Fund&#8217;s risk/return potential within its long-term risk budget, the portfolio managers may dynamically adjust the mix of top-down and bottom-up strategies in the Fund&#8217;s portfolio.<br /><br />The Fund may invest in all types of foreign and emerging country fixed income securities, including the following:<ul type="square"><li> Debt issued by governments, their agencies and instrumentalities, or by their central banks, including Brady Bonds; </li><li>Interests in structured securities; </li><li>Fixed and floating rate, senior and subordinated corporate debt obligations (such as bonds, debentures, notes and commercial paper); </li><li> Loan participations; and </li><li>Repurchase agreements with respect to the foregoing.</li></ul>Foreign securities include securities of issuers located outside the U.S. or securities quoted or denominated in a currency other than the U.S. Dollar.<br /><br />The Fund intends to use structured securities or derivatives, including but not limited to credit linked notes, financial future contracts, forward contracts and swap contracts to gain exposure to certain countries or currencies.<br /><br />The Fund may invest in securities without regard to credit rating. The countries in which the Fund invests may have sovereign ratings that are below investment grade or are unrated. Moreover, to the extent the Fund invests in corporate or other privately issued debt obligations, many of the issuers of such obligations will be smaller companies with stock market capitalizations of $1 billion or less at the time of investment. Securities of these issuers may be rated below investment grade (so-called &#8220;high yield&#8221; or &#8220;junk&#8221; bonds) or unrated. Although a majority of the Fund&#8217;s assets may be denominated in U.S. Dollars, the Fund may invest in securities denominated in any currency and may be subject to the risk of adverse currency fluctuations.<br /><br />For purposes of the Fund&#8217;s policy to invest at least 80% of its Net Assets in securities and instruments of issuers in &#8220;emerging market countries&#8221;, such countries include but are not limited to those considered to be developing by the World Bank. Generally, the Investment Adviser has broad discretion to identify other countries that it considers to qualify as emerging market countries. The majority of these countries are likely to be located in Africa, Asia, the Middle East, Eastern and Central Europe and Central and South America. Sovereign debt consists of debt securities issued by governments or any of their agencies, political subdivisions or instrumentalities. Sovereign debt may also include nominal and real inflation-linked securities. In determining whether an issuer of corporate debt is in an emerging market country, the Investment Adviser will ordinarily do so by identifying the issuer&#8217;s &#8220;country of risk.&#8221; The issuer&#8217;s &#8220;country of risk&#8221; is determined based on a number of criteria, including its country of domicile, the primary stock exchange on which it trades, the location from which the majority of its revenue comes, and its reporting currency. Although the Investment Adviser will generally rely on an issuer&#8217;s &#8220;country of risk&#8221; as determined by Bloomberg, it is not required to do so.<br /><br />The Fund&#8217;s target duration range under normal interest rate conditions is expected to approximate that of the J.P. Morgan Emerging Markets Bond Index (EMBI<sup>SM</sup>) Global Diversified Index (Gross, USD, Unhedged), plus or minus 2 years, and over the last five years ended June 30, 2017, the duration of this Index has ranged between 6.34 and 7.15 years. &#8220;Duration&#8221; is a measure of a debt security&#8217;s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security&#8217;s market price.<br /><br />The Fund&#8217;s benchmark index is the J.P. Morgan Emerging Markets Bond Index (EMBI<sup>SM</sup>) Global Diversified Index (Gross, USD, Unhedged).<br /><br />THE FUND IS NON-DIVERSIFIED UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED (THE &#8220;INVESTMENT COMPANY ACT&#8221;), AND MAY INVEST A LARGER PERCENTAGE OF ITS ASSETS IN FEWER ISSUERS THAN DIVERSIFIED MUTUAL FUNDS. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (&#8220;Net Assets&#8221;) in high-yield, fixed income securities that, at the time of purchase, are non-investment grade securities. Non-investment grade securities are securities rated BB+, Ba1 or below by a nationally recognized statistical rating organization (&#8220;NRSRO&#8221;), or, if unrated, determined by the Investment Adviser to be of comparable credit quality, and are commonly referred to as &#8220;junk bonds.&#8221; The Fund may invest in all types of fixed income securities, including loan participations.<br /><br />The Fund may invest up to 25% of its total assets in obligations of domestic and foreign issuers which are denominated in currencies other than the U.S. dollar and in securities of issuers located in emerging countries denominated in any currency. However, to the extent that the Investment Adviser has entered into transactions that are intended to hedge the Fund&#8217;s position in a non-dollar denominated obligation against currency risk, such obligation will not be counted when calculating compliance with the 25% limitation on obligations in non-U.S. currency.<br /><br />Under normal market conditions, the Fund may invest up to 20% of its Net Assets in investment grade fixed income securities, including securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises (&#8220;U.S. Government Securities&#8221;).<br /><br />The Fund may invest in derivatives, including (i) credit default swap indices (or CDX) for hedging purposes or to seek to increase total return, and (ii) interest rate futures, forwards and swaps to manage the portfolio&#8217;s duration.<br /><br />The Fund&#8217;s target duration range under normal interest rate conditions is expected to approximate that of the Bloomberg Barclays U.S. High-Yield 2% Issuer Capped Bond Index, plus or minus 2.5 years, and over the last five years ended June 30, 2017, the duration of this Index has ranged between 3.85 and 4.41 years. &#8220;Duration&#8221; is a measure of a debt security&#8217;s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security&#8217;s market price.<br /><br />The Fund&#8217;s portfolio managers seek to build a portfolio consisting of their &#8220;best ideas&#8221; across the high yield securities market consistent with the Fund&#8217;s overall risk budget and the views of the Investment Adviser&#8217;s Global Fixed Income top-down teams. As market conditions change, the volatility and attractiveness of sectors, securities and strategies can change as well. To optimize the Fund&#8217;s risk/return potential within its long-term risk budget, the portfolio managers may dynamically adjust the mix of top-down and bottom-up strategies in the Fund&#8217;s portfolio.<br /><br />The Fund&#8217;s benchmark index is the Bloomberg Barclays U.S. High-Yield 2% Issuer Capped Bond Index. The bar chart and table on the following page provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Institutional Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Class C, Institutional, Service, Investor and Class T Shares compare to those of a broad-based securities market index. www.gsamfunds.com/performance AVERAGE ANNUAL TOTAL RETURN<br /><br /><b>For the period ended December 31, 2016</b> The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. <b>Annual Fund Operating Expenses<br/>(expenses that you pay each year as a percentage of the value of your investment) </b> After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares will vary. <b>Principal Risks of the Fund </b> Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.<ul type="square"><li><b>Credit/Default Risk.</b> &nbsp;An issuer or guarantor of fixed income securities or instruments held by the Fund may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund&#8217;s liquidity and cause significant deterioration in net asset value (&#8220;NAV&#8221;).</li><li><b>Derivatives Risk.</b> &nbsp;The Fund&#8217;s use of interest rate futures, interest rate swaps, credit default swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligations. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund&#8217;s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund&#8217;s ability to invest in derivatives and other instruments and adversely affect the Fund&#8217;s performance and ability to pursue its investment objectives.</li><li><b>Interest Rate Risk.</b> &nbsp;When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rate are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund&#8217;s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.</li><li><b>Large Shareholder Transactions Risk.</b> &nbsp;The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund&#8217;s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund&#8217;s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund&#8217;s current expenses being allocated over a smaller asset base, leading to an increase in the Fund&#8217;s expense ratio.</li><li><b>Mortgage-Backed and Other Asset-Backed Securities Risk.</b> &nbsp;Mortgage-related and other asset-backed securities are subject to certain additional risks, including &#8220;extension risk&#8221; (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and &#8220;prepayment risk&#8221; (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Mortgage-backed securities offered by non-governmental issuers are subject to other risks as well, including failures of private insurers to meet their obligations and unexpectedly high rates of default on the mortgages backing the securities. Other asset-backed securities are subject to risks similar to those associated with mortgage-backed securities, as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.</li><li><b>U.S. Government Securities Risk.</b> &nbsp;The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by the Federal National Mortgage Association (&#8220;Fannie Mae&#8221;), Federal Home Loan Mortgage Corporation (&#8220;Freddie Mac&#8221;) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the U.S. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including their legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future.</li></ul> 0.048 -0.1378 0.1877 0.0939 0.0835 0.1134 -0.0124 0.0699 -0.0191 0.0476 <b>Principal Risks of the Fund </b> <b>Principal Risks of the Fund </b> Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.<ul type="square"><li><b>Counterparty Risk.</b>&nbsp; Many of the protections afforded to cleared transactions, such as the security afforded by transacting through a clearinghouse, might not be available in connection with over-the-counter (&#8220;OTC&#8221;) transactions. Therefore, in those instances in which the Fund enters into OTC transactions, the Fund will be subject to the risk that its direct counterparty will not perform its obligations under the transactions and that the Fund will sustain losses.</li><li><b>Credit/Default Risk.</b>&nbsp; An issuer or guarantor of fixed income securities or instruments held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund&#8217;s liquidity and cause significant deterioration in net asset value (&#8220;NAV&#8221;). These risks are more pronounced in connection with the Fund&#8217;s investments in non-investment grade fixed income securities.</li><li><b>Derivatives Risk.</b>&nbsp; The Fund&#8217;s use of futures, forwards, swaps, structured securities (e.g., credit linked notes) and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligations. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund&#8217;s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund&#8217;s ability to invest in derivatives and other instruments and adversely affect the Fund&#8217;s performance and ability to pursue its investment objectives.</li><li><b>Foreign and Emerging Countries Risk.</b>&nbsp; Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls, sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. These risks may be more pronounced in connection with the Fund&#8217;s investments in securities of issuers located in emerging countries.</li><li><b>Interest Rate Risk.</b>&nbsp; When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rate are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund&#8217;s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.</li><li><b>Large Shareholder Transactions Risk.</b>&nbsp; The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund&#8217;s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund&#8217;s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund&#8217;s current expenses being allocated over a smaller asset base, leading to an increase in the Fund&#8217;s expense ratio.</li><li><b>Liquidity Risk.</b>&nbsp; The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests or other reasons. To meet redemption requests, the Fund may be forced to sell securities at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.</li><li><b>Non-Diversification Risk.</b>&nbsp; The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified mutual funds. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.</li><li><b>Non-Investment Grade Fixed Income Securities Risk.</b>&nbsp; Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as &#8220;junk bonds&#8221;) are considered speculative and are subject to the increased risk of an issuer&#8217;s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity.</li><li><b>Sovereign Default Risk.</b>&nbsp; An issuer of non-U.S. sovereign debt held by the Fund or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay the principal or interest when due. This may result from political or social factors, the general economic environment of a country, levels of foreign debt or foreign currency exchange rates.</li></ul> Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.<ul type="square"><li><b>Credit/Default Risk.</b>&nbsp; An issuer or guarantor of fixed income securities or instruments held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund&#8217;s liquidity and cause significant deterioration in net asset value (&#8220;NAV&#8221;). These risks are more pronounced in connection with the Fund&#8217;s investments in non-investment grade fixed income securities.</li><li><b>Derivatives Risk.</b>&nbsp; The Fund&#8217;s use of credit default swap indices (or CDX), interest rate futures, forwards and swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligations. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund&#8217;s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund&#8217;s ability to invest in derivatives and other instruments and adversely affect the Fund&#8217;s performance and ability to pursue its investment objectives.</li><li><b>Foreign Risk.</b>&nbsp; Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls, sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States or other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time.</li><li><b>Interest Rate Risk.</b>&nbsp; When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rate are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund&#8217;s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.</li><li><b>Large Shareholder Transactions Risk.</b>&nbsp; The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund&#8217;s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund&#8217;s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund&#8217;s current expenses being allocated over a smaller asset base, leading to an increase in the Fund&#8217;s expense ratio.</li><li><b>Liquidity Risk.</b>&nbsp; The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests or other reasons. To meet redemption requests, the Fund may be forced to sell securities at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.</li><li><b>Loan-Related Investments Risk.</b>&nbsp; In addition to risks generally associated with debt investments, loan-related investments such as loan participations and assignments are subject to other risks. Although a loan obligation may be fully collateralized at the time of acquisition, the collateral may decline in value, be relatively illiquid, or lose all or substantially all of its value subsequent to investment. Many loan investments are subject to legal or contractual restrictions on resale and may be relatively illiquid and difficult to value. There is less readily available, reliable information about most loan investments than is the case for many other types of securities. Substantial increases in interest rates may cause an increase in loan obligation defaults. With respect to loan participations, the Fund may not always have direct recourse against a borrower if the borrower fails to pay scheduled principal and/or interest; may be subject to greater delays, expenses and risks than if the Fund had purchased a direct obligation of the borrower; and may be regarded as the creditor of the agent lender (rather than the borrower), subjecting the Fund to the creditworthiness of that lender as well. Investors in loans, such as the Fund, may not be entitled to rely on the anti-fraud protections of the federal securities laws, although they may be entitled to certain contractual remedies. The market for loan obligations may be subject to irregular trading activity, wide bid/ask spreads and extended trade settlement periods. Because transactions in many loans are subject to extended trade settlement periods, the Fund may not receive the proceeds from the sale of a loan for a period after the sale. As a result, sale proceeds related to the sale of loans may not be available to make additional investments or to meet the Fund&#8217;s redemption obligations for a period after the sale of the loans, and, as a result, the Fund may have to sell other investments or engage in borrowing transactions, such as borrowing from its credit facility, if necessary to raise cash to meet its obligations.<br/><br/>Senior loans hold the most senior position in the capital structure of a business entity, and are typically secured with specific collateral, but are nevertheless usually rated below investment grade. Because second lien loans are subordinated or unsecured and thus lower in priority of payment to senior loans, they are subject to the additional risk that the cash flow of the borrower and property securing the loan or debt, if any, may be insufficient to meet scheduled payments after giving effect to the senior secured obligations of the borrower. Second lien loans generally have greater price volatility than senior loans and may be less liquid.</li><li><b>Non-Investment Grade Fixed Income Securities Risk.</b>&nbsp; Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as &#8220;junk bonds&#8221;) are considered speculative and are subject to the increased risk of an issuer&#8217;s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity.</li></ul> Assuming complete redemption at end of period Assuming no redemption <b>Performance </b> The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Class C, Institutional, Investor, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.<br /><br />The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown. <b>Performance </b> The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.<br /><br />The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown. <b>TOTAL RETURN CALENDAR YEAR (CLASS A)</b> 0.045 0 0 0 0 0.025 <b>TOTAL RETURN CALENDAR YEAR (CLASS A)</b> 0 0.01 0 0 0 0 The total return for Class A Shares for the six-month period ended<br/> June 30, 2017 was 6.29%.<br/><br/>Best Quarter<br/> Q2 &#8216;09 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;+16.16%<br/><br/>Worst Quarter<br/> Q4 &#8216;08 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8211;13.18% The total return for Class A Shares for the six-month period ended<br/> June 30, 2017 was 3.86%.<br/><br/>Best Quarter<br/> Q2 &#8216;09 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;+18.40%<br/><br/>Worst Quarter<br/> Q4 &#8216;08 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8211;18.79% AVERAGE ANNUAL TOTAL RETURN<br/><br/><b>For the period ended December 31, 2016 </b> -0.02 -0.02 -0.02 -0.02 -0.02 -0.02 The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. 0.004 0.004 0.004 0.004 0.004 0.004 0.004 0.004 0.0025 0.0075 0 0.0025 0 0.005 0 0.0025 0.0019 0.0044 0.001 0.0035 0.0019 0.002 0.0009 0.002 0 0 0 0 0 0 0.0025 0 0 0 0 0.0025 0 0 0 0 0.001 0.0019 0.002 0.0009 0.002 0.001 0.0019 0.0019 0.0079 -0.005 0.0045 0.0561 0.0523 0.0561 0.0514 0.0561 0.0523 0.0561 0.0524 0.0561 0.0079 0.0561 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 <b>Expense Example </b> 0.006 0.0111 0.005 0.0086 0.0101 0.0051 0.016 0.0085 0.0308 0.0137 0.0174 0.0384 0.0425 0.0384 0.0384 0.0416 0.0425 0.0384 0.0425 0.0384 0.0308 0.0384 This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.<br /><br />The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Investor and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Investor and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be: -0.0005 -0.0005 -0.0006 -0.0006 -0.0006 -0.0006 -0.0006 -0.0007 0.008 0.0155 0.0045 0.0095 0.0054 0.0104 0.0044 0.008 <b>Portfolio Turnover </b> 0.04 0.0215 0.0242 0.0531 0.0475 0.0531 0.0478 0.0531 0.0475 0.0531 0.04 0.0531 The Fund pays transaction costs when it buys and sells securities or instruments (i.e., &#8220;turns over&#8221; its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund&#8217;s performance. The Fund&#8217;s portfolio turnover rate for the fiscal year ended March 31, 2017 was 111% of the average value of its portfolio. <b>Performance </b> The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Institutional, Investor, Separate Account Institutional, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.<br /><br />The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown. 0.0401 0.0225 0.0246 0.047 0.0502 0.0502 0.0412 0.0397 0.0473 0.0502 0.047 0.0502 0.0401 0.0502 <b>Principal Strategy </b> 2003-11-03 2003-11-03 2003-11-03 2003-11-03 2003-11-03 2003-11-03 2011-07-29 2011-07-29 2003-11-03 2003-11-03 2015-07-31 2015-07-31 2017-07-28 2017-07-28 <b>TOTAL RETURN CALENDAR YEAR (CLASS A)</b> The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (&#8220;Net Assets&#8221;) in sovereign and corporate debt securities of issuers in emerging market countries, denominated in the local currency of such emerging market countries, and other instruments, including credit linked notes and other investments, with similar economic exposures.<br /><br />The Fund&#8217;s portfolio managers seek to build a portfolio across the emerging markets debt market consistent with the Fund&#8217;s overall risk budget and the views of the Investment Adviser&#8217;s Global Fixed Income top-down teams. As market conditions change, the volatility and attractiveness of sectors, securities and strategies can change as well. To optimize the Fund&#8217;s risk/return potential within its long-term risk budget, the portfolio managers may dynamically adjust the mix of top-down and bottom-up strategies in the Fund&#8217;s portfolio.<br /><br />The Fund may invest in all types of foreign and emerging country fixed income securities, including the following:<ul type="square"><li>Debt issued by governments, their agencies and instrumentalities, or by their central banks, including Brady Bonds;</li><li>Interests in structured securities;</li><li>Fixed and floating rate, senior and subordinated corporate debt obligations (such as bonds, debentures, notes and commercial paper);</li><li>Loan participations; and</li><li>Repurchase agreements with respect to the foregoing.</li></ul>Foreign securities include securities of issuers located outside the U.S. or securities quoted or denominated in a currency other than the U.S. Dollar.<br /><br />Currency investments, particularly longer-dated forward contracts, provide the Fund with economic exposure similar to investments in sovereign and corporate debt with respect to currency and interest rate exposure. The Investment Adviser intends to use structured securities and derivative instruments to attempt to improve the performance of the Fund or to gain exposure to certain countries or currencies in the Fund&#8217;s investment portfolio in accordance with its investment objective, and the Fund&#8217;s investments in these instruments may be significant. These transactions may result in substantial realized and unrealized capital gains and losses relative to the gains and losses from the Fund&#8217;s investments in bonds and other securities.<br /><br />The Fund may invest in securities without regard to credit rating. The countries in which the Fund invests may have sovereign ratings that are below investment grade or are unrated. Moreover, to the extent the Fund invests in corporate or other privately issued debt obligations, many of the issuers of such obligations will be smaller companies with stock market capitalizations of $1 billion or less at the time of investment. Securities of these issuers may be rated below investment grade (so-called &#8220;high yield&#8221; or &#8220;junk&#8221; bonds) or unrated. Although a majority of the Fund&#8217;s assets will be denominated in non-U.S. Dollars, the Fund may invest in securities denominated in the U.S. Dollar.<br /><br />For purposes of the Fund&#8217;s policy to invest at least 80% of its Net Assets in securities and instruments of &#8220;emerging market country&#8221; issuers, such countries include but are not limited to those considered to be developing by the World Bank. Generally, the Investment Adviser has broad discretion to identify other countries that it considers to qualify as emerging market countries. The majority of these countries are likely to be located in Africa, Asia, the Middle East, Eastern and Central Europe and Central and South America. Sovereign debt consists of debt securities issued by governments or any of their agencies, political subdivisions or instrumentalities, denominated in the local currency. Sovereign debt may also include nominal and real inflation-linked securities. In determining whether an issuer of corporate debt is in an emerging market country, the Investment Adviser will ordinarily do so by identifying the issuer&#8217;s &#8220;country of risk.&#8221; The issuer&#8217;s &#8220;country of risk&#8221; is determined based on a number of criteria, including its country of domicile, the primary stock exchange on which it trades, the location from which the majority of its revenue comes, and its reporting currency. Although the Investment Adviser will generally rely on an issuer&#8217;s &#8220;country of risk&#8221; as determined by Bloomberg, it is not required to do so.<br /><br />The Fund&#8217;s target duration range under normal interest rate conditions is expected to approximate that of the J.P. Morgan Government Bond Index&#8212;Emerging Markets (GBI-EM<sup><small>SM</small></sup><small></small>) Global Diversified Index (Gross, USD, Unhedged) plus or minus 2 years, and over the last five years ended June 30, 2017, the duration of this Index has ranged between 4.06 and 5.10 years. &#8220;Duration&#8221; is a measure of a debt security&#8217;s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security&#8217;s market price.<br /><br />The Fund may invest in the aggregate up to 20% of its Net Assets in investments other than emerging country fixed income securities, currency investments and related derivatives, including (without limitation) equity securities and fixed income securities, such as government, corporate and bank debt obligations, of developed country issuers.<br /><br />The Fund&#8217;s benchmark index is the J.P. Morgan Government Bond Index&#8212;Emerging Markets (GBI-EM<sup><small>SM</small></sup><small></small>) Global Diversified Index (Gross, USD, Unhedged).<br /><br />THE FUND IS NON-DIVERSIFIED UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED (THE &#8220;INVESTMENT COMPANY ACT&#8221;), AND MAY INVEST A LARGER PERCENTAGE OF ITS ASSETS IN FEWER ISSUERS THAN DIVERSIFIED MUTUAL FUNDS. 0.008 0.008 0.008 0.008 0.008 0.008 0.0025 0.0075 0 0 0.005 0.0025 0.0129 0.0154 0.012 0.0129 0.0129 0.0129 0 0.0025 0 0 0 0 0.0129 0.0129 0.012 0.0129 0.0129 0.0129 0.0234 0.0309 0.02 0.0209 0.0234 0.0259 -0.0114 -0.0113 -0.0114 -0.0113 -0.0114 -0.0114 0.012 0.0196 0.0086 0.0096 0.0145 0.012 The total return for Class A Shares for the six-month period ended<br/>June 30, 2017 was 0.95%.<br/><br/>Best Quarter<br/> Q3 &#8216;09 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;+4.75%<br/><br/>Worst Quarter<br/> Q1 &#8216;08 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8211;2.43% <b>Principal Risks of the Fund </b> Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.<ul type="square"><li><b>Counterparty Risk. &nbsp;</b>Many of the protections afforded to cleared transactions, such as the security afforded by transacting through a clearinghouse, might not be available in connection with over-the-counter (&#8220;OTC&#8221;) transactions. Therefore, in those instances in which the Fund enters into OTC transactions, the Fund will be subject to the risk that its direct counterparty will not perform its obligations under the transactions and that the Fund will sustain losses.</li><li><b>Credit/Default Risk. &nbsp;</b>An issuer or guarantor of fixed income securities or instruments held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund&#8217;s liquidity and cause significant deterioration in net asset value (&#8220;NAV&#8221;). These risks are more pronounced in connection with the Fund&#8217;s investments in non-investment grade fixed income securities.</li><li><b>Derivatives Risk. &nbsp;</b>The Fund&#8217;s use of structured securities and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligations. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund&#8217;s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund&#8217;s ability to invest in derivatives and other instruments and adversely affect the Fund&#8217;s performance and ability to pursue its investment objectives.</li><li><b>Foreign and Emerging Countries Risk. &nbsp;</b>Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls, sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. These risks may be more pronounced in connection with the Fund&#8217;s investments in securities of issuers located in emerging countries.</li><li><b>Interest Rate Risk. &nbsp;</b>When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rate are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund&#8217;s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.</li><li><b>Large Shareholder Transactions Risk. &nbsp;</b>The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund&#8217;s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund&#8217;s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund&#8217;s current expenses being allocated over a smaller asset base, leading to an increase in the Fund&#8217;s expense ratio.</li><li><b>Liquidity Risk. &nbsp;</b>The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests or other reasons. To meet redemption requests, the Fund may be forced to sell securities at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.</li><li><b>Non-Diversification Risk. &nbsp;</b>The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified mutual funds. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.</li><li><b>Non-Hedging Foreign Currency Trading Risk. &nbsp;</b>The Fund may engage in forward foreign currency transactions for both hedging and non-hedging purposes. The Funds&#8217; Investment Adviser may purchase or sell foreign currencies through the use of forward contracts based on the Investment Adviser&#8217;s judgment regarding the direction of the market for a particular foreign currency or currencies. In pursuing this strategy, the Investment Adviser seeks to profit from anticipated movements in currency rates by establishing &#8220;long&#8221; and/or &#8220;short&#8221; positions in forward contracts on various foreign currencies. Foreign exchange rates can be extremely volatile and a variance in the degree of volatility of the market or in the direction of the market from that anticipated by the Investment Adviser may produce significant losses to the Fund. Some of these transactions may also be subject to interest rate risk.</li><li><b>Non-Investment Grade Fixed Income Securities Risk. &nbsp;</b>Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as &#8220;junk bonds&#8221;) are considered speculative and are subject to the increased risk of an issuer&#8217;s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity</li><li><b>Sovereign Default Risk. &nbsp;</b>An issuer of non-U.S. sovereign debt held by the Fund or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay the principal or interest when due. This may result from political or social factors, the general economic environment of a country, levels of foreign debt or foreign currency exchange rates.</li></ul> <b>Performance </b> The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Class C, Institutional, Investor and Class T Shares compare to those of a broad-based securities market index. The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.<br /><br />The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown. 567 299 88 98 148 369 This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.<br /><br />The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and/or Class T Shares at the end of those periods, unless otherwise stated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same (except that the Example incorporates the expense limitation arrangement for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be: <b>TOTAL RETURN CALENDAR YEAR (CLASS A)</b> 1043 848 517 697 546 856 1545 1522 972 1020 1273 1368 2922 3323 2331 2235 2840 2774 199 The total return for Class A Shares for the six-month period ended <br />June 30, 2017 was 11.71%.<br /><br />Best Quarter<br />Q2 &#8216;09 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;+16.25%<br /><br />Worst Quarter<br />Q3 &#8216;11 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8211;10.98% 848 AVERAGE ANNUAL TOTAL RETURN<br/><br/><b>For the period ended December 31, 2016</b> 1522 The Fund pays transaction costs when it buys and sells securities or instruments (i.e., &#8220;turns over&#8221; its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in the annual fund operating expenses or in the expense example above, but are reflected in the Fund&#8217;s performance. The Fund&#8217;s portfolio turnover rate for the fiscal year ended March 31, 2017 was 363% of the average value of its portfolio. 3323 A contingent deferred sales charge ("CDSC") of 1.00% is imposed on Class C Shares redeemed within 12 months of purchase. <b>TOTAL RETURN CALENDAR YEAR (CLASS A)</b> The total return for Class A Shares for the six-month period ended<br/>June 30, 2017 was 0.99%.<br/><br/>Best Quarter<br/> Q3 &#8216;12 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;+5.26%<br/><br/>Worst Quarter<br/> Q3 &#8216;11 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8211;3.18% A contingent deferred sales charge ("CDSC") of 1.00% is imposed on Class C Shares redeemed within 12 months of purchase. Assuming complete redemption at end of period The Fund's "Management Fees" have been restated to reflect current fees.<br/><br/>The Fund's "Total Annual Fund Operating Expenses After Fee Waiver and Expense Limitation" have been restated to reflect the fee waiver and expense limitation currently in effect. AVERAGE ANNUAL TOTAL RETURN<br/><br/><b>For the period ended December 31, 2016</b> Assuming no redemption The "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year. The "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year. July 28, 2018 The after-tax returns are for Class A Shares only. The after-tax returns for Institutional, Investor, Separate Account Institutional and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. July 28, 2018 0.31 0.28 You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 38 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 42 and in &#8220;Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts&#8221; on page 72 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 38 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 42 and in &#8220;Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts&#8221; on page 72 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). 100000 100000 Loss of money is a risk of investing in the Fund. Loss of money is a risk of investing in the Fund. <b>Non-Diversification Risk.</b>&nbsp; The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than a diversified mutual fund. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments. The bar chart and table on the following page provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Institutional Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Class C, Institutional, Service, Investor and Class T Shares compare to those of a broad-based securities market index. <b>Portfolio Turnover </b> The Fund pays transaction costs when it buys and sells securities or instruments (i.e., &#8220;turns over&#8221; its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in the annual fund operating expenses or in the expense example above, but are reflected in the Fund&#8217;s performance. The Fund&#8217;s portfolio turnover rate for the fiscal year ended March 31, 2017 was 517% of the average value of its portfolio. <b>Principal Strategy </b> The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (&#8220;Net Assets&#8221;) in bonds and other fixed income securities, including securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises (&#8220;U.S. Government Securities&#8221;), corporate debt securities, collateralized loan obligations, privately issued adjustable rate and fixed rate mortgage loans or other mortgage-related securities (&#8220;Mortgage-Backed Securities&#8221;), asset-backed securities, high yield non-investment grade securities (securities rated BB+, Ba1 or below by a nationally recognized statistical rating organization (&#8220;NRSRO&#8221;) or, if unrated, determined by the Investment Adviser to be of comparable credit quality). The Fund may also invest in custodial receipts, fixed income securities issued by or on behalf of states, territories, and possessions of the United States (including the District of Columbia) (&#8220;Municipal Securities&#8221;) and convertible securities. The Fund may also engage in forward foreign currency transactions for both hedging and non-hedging purposes. The Fund also intends to invest in derivatives, including (but not limited to) forwards, interest rate futures, interest rate swaps and credit default swaps, which are used primarily to hedge the Fund&#8217;s portfolio risks, manage the Fund&#8217;s duration and/or gain exposure to certain fixed income securities or indices. The Fund may invest in obligations of domestic and foreign issuers which are denominated in currencies other than the U.S. dollar. The Fund may invest up to 15% of its total assets measured at the time of purchase (&#8220;Total Assets&#8221;) in sovereign and corporate debt securities and other instruments of issuers in emerging market countries (&#8220;emerging countries debt&#8221;). In pursuing its investment objective, the Fund uses the Index as its performance benchmark, but the Fund will not attempt to replicate the Index. The Fund may, therefore, invest in securities that are not included in the Index. The Fund may also purchase securities of issuers in default.<br /><br />The Fund&#8217;s investments in non-investment grade securities (i.e., junk bonds) will not exceed 25% of its Total Assets at the time of purchase. Otherwise, the Fund invests in fixed income securities rated at least BBB&#8211; or Baa3 at the time of purchase. Securities will either be rated by an NRSRO or, if unrated, determined by the Investment Adviser to be of comparable credit quality.<br /><br />The Fund&#8217;s target duration range under normal interest rate conditions is expected to approximate that of the Index, plus or minus 2.5 years, and over the last five years ended June 30, 2017, the duration of the Index has ranged between 4.81 and 6.08 years. &#8220;Duration&#8221; is a measure of a debt security&#8217;s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security&#8217;s market price.<br /><br />The Fund&#8217;s benchmark index is the Bloomberg Barclays U.S. Aggregate Bond Index. The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Institutional Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Class C, Institutional, Investor and Class T Shares compare to those of certain broad-based securities market indices and to the Goldman Sachs High Yield Municipal Fund Composite Index, a custom benchmark comprised of the Bloomberg Barclays Municipal Bond Index (40%) and the Bloomberg Barclays Municipal High Yield Bond Index (60%). www.gsamfunds.com/performance www.gsamfunds.com/performance The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. <b>Principal Risks of the Fund </b> The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.<br /><br /><b>Credit/Default Risk.</b> &nbsp;An issuer or guarantor of fixed income securities or instruments held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund&#8217;s liquidity and cause significant deterioration in net asset value (&#8220;NAV&#8221;). These risks are more pronounced in connection with the Fund&#8217;s investments in non-investment grade fixed income securities.<br /><br /><b>Derivatives Risk.</b> &nbsp;The Fund&#8217;s use of forwards, interest rate futures, interest rate swaps, credit default swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund&#8217;s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund&#8217;s ability to invest in derivatives and other instruments and adversely affect the Fund&#8217;s performance and ability to pursue its investment objectives.<br /><br /><b>Foreign and Emerging Countries Risk.</b> &nbsp;Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls (including repatriation restrictions), sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. These risks may be more pronounced in connection with the Fund&#8217;s investments in securities of issuers located in emerging countries.<br /><br /><b>Interest Rate Risk.</b> &nbsp;When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rate are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund&#8217;s investments. Fluctuations in interest rates may also affect the yield and liquidity of fixed income securities and instruments held by the Fund.<br /><br /><b>Large Shareholder Transactions Risk.</b> &nbsp;The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund&#8217;s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund&#8217;s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund&#8217;s current expenses being allocated over a smaller asset base, leading to an increase in the Fund&#8217;s expense ratio.<br /><br /><b>Mortgage-Backed and Other Asset-Backed Securities Risk.</b> &nbsp;Mortgage-related and other asset-backed securities are subject to certain additional risks, including &#8220;extension risk&#8221; (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and &#8220;prepayment risk&#8221; (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Mortgage-backed securities offered by non-governmental issuers are subject to other risks as well, including failures of private insurers to meet their obligations and unexpectedly high rates of default on the mortgages backing the securities. Other asset-backed securities are subject to risks similar to those associated with mortgage-backed securities, as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.<br /><br /><b>Non-Investment Grade Fixed Income Securities Risk.</b> &nbsp;Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as &#8220;junk bonds&#8221;) are considered speculative and are subject to the increased risk of an issuer&#8217;s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity.<br /><br /><b>U.S. Government Securities Risk.</b> &nbsp;The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by the Federal National Mortgage Association (&#8220;Fannie Mae&#8221;), Federal Home Loan Mortgage Corporation (&#8220;Freddie Mac&#8221;) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including their legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. 454 258 46 97 55 106 45 330 After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares will vary. The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares will vary. 631 500 158 316 186 346 154 512 824 866 279 552 329 605 274 709 447 40 49 40 39 323 616 143 171 143 140 494 800 255 305 255 250 681 1332 584 694 584 571 1219 AVERAGE ANNUAL TOTAL RETURN<br /><br /><b>For the period ended December 31, 2016</b> 1380 1896 635 1231 744 1345 622 1279 -0.0144 -0.0856 0.0916 total return 2017-06-30 0.0883 Best Quarter 2016-03-31 0.0744 total return total return Worst Quarter 2017-06-30 2017-06-30 2015-09-30 0.0374 -0.0648 0.0623 Best Quarter Best Quarter 2009-09-30 2009-09-30 0.1005 0.1687 Worst Quarter 2008-12-31 Worst Quarter Assuming complete redemption at end of period 2008-12-31 Assuming no redemption -0.2235 -0.0589 250000 250000 500000 250000 158 500 866 1896 The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (&#8220;Net Assets&#8221;) in fixed income securities, including securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises (&#8220;U.S. Government Securities&#8221;), corporate debt securities, privately issued adjustable rate and fixed rate mortgage loans or other mortgage-related securities (&#8220;Mortgage-Backed Securities&#8221;) and asset-backed securities. The Fund may also invest in custodial receipts, fixed income securities issued by or on behalf of states, territories, and possessions of the United States (including the District of Columbia) (&#8220;Municipal Securities&#8221;) and convertible securities.<br /><br />The Fund may also engage in forward foreign currency transactions for both hedging and non-hedging purposes. The Fund also intends to invest in derivatives, including (but not limited to) interest rate futures, interest rate swaps and credit default swaps, which are used primarily to hedge the Fund&#8217;s portfolio risks, manage the Fund&#8217;s duration and/or gain exposure to certain fixed income securities or indices.<br /><br />The Fund&#8217;s investments in non-U.S. dollar denominated obligations (hedged or unhedged against currency risk) will not exceed 25% of its total assets measured at the time of purchase (&#8220;Total Assets&#8221;), and 10% of the Fund&#8217;s Total Assets may be invested in sovereign and corporate debt securities and other instruments of issuers in emerging market countries (&#8220;emerging countries debt&#8221;). Additionally, exposure to non-U.S. currencies (unhedged against currency risk) will not exceed 25% of the Fund&#8217;s Total Assets. In pursuing its investment objective, the Fund uses the Index as its performance benchmark, but the Fund will not attempt to replicate the Index. The Fund may, therefore, invest in securities that are not included in the Index.<br /><br />The Fund may invest in fixed income securities rated at least BBB&#8211; or Baa3 at the time of purchase. Securities will either be rated by a nationally recognized statistical rating organization (&#8220;NRSRO&#8221;) or, if unrated, determined by the Investment Adviser to be of comparable credit quality.<br /><br />The Fund&#8217;s target duration range under normal interest rate conditions is expected to approximate that of the Index plus or minus one year, and over the last five years ended June 30, 2017, the duration of the Index has ranged between 4.81 and 6.08 years. &#8220;Duration&#8221; is a measure of a debt security&#8217;s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security&#8217;s market price.<br /><br />&#8220;Core&#8221; in the Fund&#8217;s name means that the Fund focuses its investments in intermediate and long-term investment grade bonds.<br /><br />The Fund&#8217;s benchmark index is the Bloomberg Barclays U.S. Aggregate Bond Index. <b>Performance </b> <b>Principal Risks of the Fund </b> The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.<br /><br />The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown. Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.<br /><br /><b>Credit/Default Risk.</b> &nbsp;An issuer or guarantor of fixed income securities or instruments held by the Fund may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund&#8217;s liquidity and cause significant deterioration in net asset value (&#8220;NAV&#8221;).<br /><br /><b>Derivatives Risk.</b> &nbsp;The Fund&#8217;s use of forwards, interest rate futures, interest rate swaps, credit default swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund&#8217;s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund&#8217;s ability to invest in derivatives and other instruments and adversely affect the Fund&#8217;s performance and ability to pursue its investment objectives.<br /><br /><b>Foreign and Emerging Countries Risk.</b> &nbsp;Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls (including repatriation restrictions), sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. These risks may be more pronounced in connection with the Fund&#8217;s investments in securities of issuers located in emerging countries.<br /><br /><b>Interest Rate Risk.</b> &nbsp;When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rate are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund&#8217;s investments. Fluctuations in interest rates may also affect the yield and liquidity of fixed income securities and instruments held by the Fund.<br /><br /><b>Large Shareholder Transactions Risk.</b> &nbsp;The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund&#8217;s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund&#8217;s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund&#8217;s current expenses being allocated over a smaller asset base, leading to an increase in the Fund&#8217;s expense ratio.<br /><br /><b>Mortgage-Backed and Other Asset-Backed Securities Risk.</b> &nbsp;Mortgage-related and other asset-backed securities are subject to certain additional risks, including &#8220;extension risk&#8221; (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and &#8220;prepayment risk&#8221; (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Mortgage-backed securities offered by non-governmental issuers are subject to other risks as well, including failures of private insurers to meet their obligations and unexpectedly high rates of default on the mortgages backing the securities. Other asset-backed securities are subject to risks similar to those associated with mortgage-backed securities, as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.<br /><br /><b>U.S. Government Securities Risk.</b> &nbsp;The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by the Federal National Mortgage Association (&#8220;Fannie Mae&#8221;), Federal Home Loan Mortgage Corporation (&#8220;Freddie Mac&#8221;) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including their legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future. <b>TOTAL RETURN CALENDAR YEAR (CLASS A)</b> The total return for Class A Shares for the six-month period ended<br/>June 30, 2017 was 2.49%.<br/><br/>Best Quarter<br/> Q3 &#8216;09 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;+5.88%<br/><br/>Worst Quarter<br/> Q3 &#8216;08 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8211;3.49% 0.042 0.0261 0.0289 0.0729 0.0952 0.0944 0.0889 0.042 0.1003 0.0991 0.1012 0.0962 -0.0287 -0.044 -0.0269 -0.0228 -0.0123 -0.0139 -0.018 -0.0287 -0.0042 -0.0509 0.0446 0.0412 The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. 2013-05-31 2013-05-31 2013-05-31 2013-05-31 2013-05-31 2013-05-31 2013-05-31 2017-07-28 AVERAGE ANNUAL TOTAL RETURN<br/><br/><b>For the period ended December 31, 2016</b> The after-tax returns are for Class A Shares only. The after-tax returns for Institutional, Investor, Separate Account Institutional and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. <b>Performance </b> The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. www.gsamfunds.com/performance As of the date of the Prospectus, Class T Shares have not commenced operations. The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Institutional, Investor, Separate Account Institutional, Class R6 and Class T Shares compare to those of a broad-based securities market index. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. Loss of money is a risk of investing in the Fund. The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.<br /><br />The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown. 0.63 <b>TOTAL RETURN CALENDAR YEAR (CLASS A)</b> You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 71 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 75 and in Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). 100000 250000 July 28, 2018 total return 2017-06-30 0.0372 Best Quarter As of the date of the Prospectus, Class T Shares have not commenced operations. The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. 2009-06-30 The total return for Class A Shares for the six-month period ended<br/> June 30, 2017 was 2.18%.<br/><br/>Best Quarter<br/> Q3 &#8216;09 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;+8.52%<br/><br/>Worst Quarter<br/> Q3 &#8216;08 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8211;4.12%<br /> 569 300 94 99 371 0.1001 848 647 315 339 657 Worst Quarter 2008-09-30 -0.0821 1148 1121 554 598 963 As of the date of the Prospectus, Class T Shares have not commenced operations. 2000 2430 1239 1339 1832 0.063 -0.1092 0.1595 0.0731 0.0706 0.0589 -0.0172 0.0528 0.0022 0.0259 <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleShareholderFees000082 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualFundOperatingExpenses000083 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleTransposed000084 column period compact * ~</div> total return 2017-06-30 July 28, 2018 0.0218 <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualTotalReturnsBarChart000086 column period compact * ~</div> Best Quarter 1.42 2009-09-30 0.0852 A contingent deferred sales charge ("CDSC") of 1.00% is imposed on Class C Shares redeemed within 12 months of purchase. Worst Quarter You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 71 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 75 and in Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000087 column period compact * ~</div> 2008-09-30 100000 250000 -0.0412 Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation ("FDIC") or any government agency. The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Class C, Institutional, Investor, Class R and Class T Shares compare to those of certain broad-based securities market indices and to the Dynamic Emerging Markets Debt Fund Composite Index, a custom benchmark comprised of the J.P. Morgan Government Bond Index&#8212;Emerging Markets (GBI-EM<sup>SM</sup>) Global Diversified Index (Gross, USD, Unhedged) (50%), the J.P. Morgan Emerging Markets Bond Index (EMBI<sup>SM</sup>) Global Diversified Index (Gross, USD, Unhedged) (25%), and the J.P. Morgan Corporate Emerging Markets Bond Index (CEMBI<sup>SM</sup>) Broad Diversified Index (Gross, USD, Unhedged) (25%). As of the date of the Prospectus, Class T Shares have not commenced operations. www.gsamfunds.com/performance The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R Shares (which are offered exclusively to employee benefit plans), will vary. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases. The Fund&#8217;s &#8220;Management Fees&#8221; have been restated to reflect current fees. <br/><br/>The "Other Expenses" for Class R6 Shares have been restated The Fund's "Management Fees" have been restated to reflect current fees. <b>Goldman Sachs High Quality Floating Rate Fund&#8212;Summary </b> The "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year. <b>Investment Objective </b> 0.045 0 0 0 0.025 0 0 0.01 0 0 0 0 -0.0121 -0.0214 -0.0068 0.0264 0.0082 0.0264 0.0295 0.0264 0.0244 0.0264 0.0285 0.0264 0.0235 0.0264 0.0296 0.0264 -0.0121 0.0264 0.0164 0.007 0.0084 0.0223 0.0165 0.0223 0.0276 0.0223 0.0225 0.0223 0.0267 0.0223 0.0216 0.0223 0.0276 0.0223 0.0164 0.0223 0.0318 0.0204 0.0199 0.0434 0.028 0.0434 0.0392 0.0434 0.0342 0.0434 0.0392 0.0434 0.0318 0.0434 0.0455 0.029 0.0286 0.0532 0.0384 0.052 0.0525 0.0538 0.0468 0.0536 0.0352 0.0405 0.0301 0.0405 0.0525 0.0538 0.0455 0.0532 The Goldman Sachs High Quality Floating Rate Fund (the &#8220;Fund&#8221;) seeks to provide a high level of current income, consistent with low volatility of principal. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases. -0.02 -0.02 -0.02 -0.02 -0.02 -0.02 Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases. <b>Fees and Expenses of the Fund </b> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $500,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 59 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 63 and in &#8220;Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts&#8221; on page 106 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). <b>Expense Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.<br /><br />The Example assumes that you invest $10,000 in Class A, Institutional, Service, Investor, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Institutional, Service, Investor, Class R6 and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be: <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleShareholderFees000022 column period compact * ~</div> <b>Portfolio Turnover </b> The Fund pays transaction costs when it buys and sells securities or instruments (i.e., &#8220;turns over&#8221; its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund&#8217;s performance. The Fund&#8217;s portfolio turnover rate for the fiscal year ended March 31, 2017 was 59% of the average value of its portfolio. <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000015 column period compact * ~</div> <b>Principal Strategy </b> The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (&#8220;Net Assets&#8221;) in high quality floating rate or variable rate obligations. Floating rate and variable rate obligations are debt instruments issued by companies or other entities with interest rates that reset periodically (typically, daily, monthly, quarterly, or semi-annually) in response to changes in the market rate of interest on which the interest rate is based. The Fund considers &#8220;high quality&#8221; obligations to be (i) those rated AAA or Aaa by a nationally recognized statistical rating organization (&#8220;NRSRO&#8221;) at the time of purchase, or, if unrated, determined by the Investment Adviser to be of comparable credit quality, including repurchase agreements with counterparties rated AAA or Aaa by an NRSRO at the time of purchase, or, if unrated, determined by the Investment Adviser to be of comparable credit quality, and (ii) securities issued or guaranteed by the U.S. Government, its agencies, instrumentalities or sponsored enterprises (&#8220;U.S. Government Securities&#8221;), including securities representing an interest in or collateralized by adjustable rate and fixed rate mortgage loans or other mortgage-related securities (&#8220;Mortgage-Backed Securities&#8221;), and in repurchase agreements collateralized by U.S. Government Securities, with counterparties approved by the Investment Adviser pursuant to procedures approved by the Board of Trustees. The remainder of the Fund&#8217;s Net Assets (up to 20%) may be invested in fixed rate obligations (subject to the credit quality requirements specified above) and investment grade floating rate or variable rate obligations. The Fund also intends to invest in derivatives, including (but not limited to) futures, swaps, options on swaps and other derivative instruments, which are used primarily to manage the Fund&#8217;s duration. The Fund may invest in obligations of foreign issuers (including sovereign and agency obligations), although 100% of the Fund&#8217;s portfolio will be invested in U.S. dollar denominated securities.<br /><br />The Fund&#8217;s investments in floating and variable rate obligations may include, without limitation: agency floating rate bonds and agency Mortgage-Backed Securities, including adjustable rate mortgages and collateralized mortgage obligation floaters; asset-backed floating rate bonds including, but not limited to, those backed by Federal Family Education Loan Program (&#8220;FFELP&#8221;) student loans and credit card receivables; other floating rate Mortgage-Backed Securities; collateralized loan obligations; corporate obligations; and overnight repurchase agreements.<br /><br />The Fund&#8217;s target duration range under normal interest rate conditions is expected to approximate that of the Bank of America Merrill Lynch Three-Month U.S. Treasury Bill Index, plus or minus 3 months, and over the last five years ended June 30, 2017, the duration of the Index has ranged between 0.22 and 0.26 years. &#8220;Duration&#8221; is a measure of a debt security&#8217;s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security&#8217;s market price.<br /><br />The Fund&#8217;s benchmark index is the Bank of America Merrill Lynch Three-Month U.S. Treasury Bill Index.<br /><br />GSAM&#8217;s Fixed Income Investing Philosophy:<br /><br />Global fixed income markets are constantly evolving and are highly diverse&#8212;with a large number of countries, currencies, sectors, issuers and securities. We believe that inefficiencies in these complex markets cause bond prices to diverge from their fair value. To capitalize on these inefficiencies and generate consistent risk-adjusted performance, we believe it is critical to:<ul type="square"><li>Thoughtfully combine diversified sources of return by employing multiple strategies</li><li>Take a global perspective to uncover relative value opportunities</li><li>Employ focused specialist teams to identify short-term mis-pricings and incorporate long-term views</li><li>Emphasize a risk-aware approach as we view risk management as both an offensive and defensive tool</li><li>Build a strong team of skilled investors who excel on behalf of our clients</li></ul> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualTotalReturnsBarChart000026 column period compact * ~</div> 0.0375 0 0 0 0 0.025 1997-05-01 1997-05-01 1997-05-01 1997-05-01 1997-08-15 1994-01-05 1997-08-15 1994-01-05 1996-03-13 1996-03-13 2007-11-30 2007-11-30 2007-11-30 2007-11-30 2015-07-31 2015-07-31 2017-07-28 2017-07-28 <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualFundOperatingExpenses000023 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualTotalReturnsBarChart000016 column period compact * ~</div> 0 0 0 0 0 0 <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleTransposed000024 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000025 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000027 column period compact * ~</div> 0.008 0.008 0.008 0.008 0.008 0.008 <b>Principal Risks of the Fund </b> 0.0025 0.0075 0 0 0 0.0025 As of the date of the Prospectus, Class T Shares have not commenced operations. 0.0019 0.0044 0.0019 0.001 0.0009 0.0019 Performance has been adjusted to reflect the higher maximum sales charge (load) imposed on purchases of Class T Shares. Class A Shares had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class A Shares impose a lower maximum sales charge (load) on purchases. 0 0.0025 0 0 0 0 0.0019 0.0019 0.001 0.0019 0.0009 0.0019 0.0124 0.0199 0.009 0.0099 0.0089 0.0124 -0.0004 -0.0004 -0.0004 -0.0004 -0.0004 -0.0004 0.012 0.0195 0.0086 0.0095 0.0085 0.012 Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.<br /><br /><b>Call/Prepayment Risk.</b> &nbsp;An issuer could exercise its right to pay principal on an obligation held by the Fund (such as a Mortgage-Backed Security) earlier than expected. This may happen when there is a decline in interest rates, when credit spreads change, or when an issuer&#8217;s credit quality improves. Under these circumstances, the Fund may be unable to recoup all of its initial investment and will also suffer from having to reinvest in lower-yielding securities.<br /><br /><b>Derivatives Risk.</b> &nbsp;The Fund&#8217;s use of futures, swaps, options on swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the Securities and Exchange Commission (&#8220;SEC&#8221;) proposed new regulations relating to a mutual fund&#8217;s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact a Fund&#8217;s ability to invest in derivatives and other instruments and adversely affect such Fund&#8217;s performance and ability to pursue its investment objectives.<br /><br /><b>Floating and Variable Rate Obligations Risk.</b> &nbsp;For floating and variable rate obligations, there may be a lag between an actual change in the underlying interest rate benchmark and the reset time for an interest payment of such an obligation, which could harm or benefit the Fund, depending on the interest rate environment or other circumstances. In a rising interest rate environment, for example, a floating or variable rate obligation that does not reset immediately would prevent the Fund from taking full advantage of rising interest rates in a timely manner. However, in a declining interest rate environment, the Fund may benefit from a lag due to an obligation&#8217;s interest rate payment not being immediately impacted by a decline in interest rates.<br /><br />Certain floating and variable rate obligations have an interest rate floor feature, which prevents the interest rate payable by the security from dropping below a specified level as compared to a reference interest rate (the &#8220;reference rate&#8221;), such as LIBOR. Such a floor protects the Fund from losses resulting from a decrease in the reference rate below the specified level. However, if the reference rate is below the floor, there will be a lag between a rise in the reference rate and a rise in the interest rate payable by the obligation, and the Fund may not benefit from increasing interest rates for a significant amount of time.<br /><br /><b>Foreign Risk.</b> &nbsp;Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls, sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. In addition, the Fund will be subject to the risk that an issuer of non-U.S. sovereign debt or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay the principal or interest when due.<br /><br /><b>Interest Rate Risk.</b> &nbsp;When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund&#8217;s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.<br /><br /><b>Large Shareholder Transactions Risk.</b> &nbsp;The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund&#8217;s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund&#8217;s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund&#8217;s current expenses being allocated over a smaller asset base, leading to an increase in the Fund&#8217;s expense ratio.<br /><br /><b>Mortgage-Backed and/or Other Asset-Backed Securities Risk.</b> &nbsp;Mortgage-related and other asset-backed securities are subject to certain additional risks, including &#8220;extension risk&#8221; (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and &#8220;prepayment risk&#8221; (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Mortgage-Backed Securities offered by non-governmental issuers are subject to other risks as well, including failures of private insurers to meet their obligations and unexpectedly high rates of default on the mortgages backing the securities. Other asset-backed securities are subject to risks similar to those associated with Mortgage-Backed Securities, as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.<br /><br /><b>U.S. Government Securities Risk.</b> &nbsp;The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by those agencies, instrumentalities and government sponsored enterprises, including those issued by the Federal National Mortgage Association (&#8220;Fannie Mae&#8221;), Federal Home Loan Mortgage Corporation (&#8220;Freddie Mac&#8221;) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including any legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future. 567 298 88 97 87 369 822 621 283 311 280 630 1097 1069 495 543 489 910 1879 2313 1104 1209 1092 1709 198 621 1069 2313 0.0506 0.0287 0.0285 0.1012 0.0808 0.1012 0.103 0.1012 0.102 0.1012 0.1032 0.1012 0.0506 0.1012 An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation ("FDIC") or any government agency. 0.0465 0.0242 0.0264 0.059 0.0483 0.059 0.0595 0.059 0.0587 0.059 0.0596 0.059 0.0465 0.059 0.0607 0.0379 0.0379 0.0688 0.0578 0.0688 0.0692 0.0688 0.0692 0.0688 0.0607 0.0688 0.0825 0.0571 0.0551 0.081 0.0607 0.0709 0.09 0.081 0.0599 0.0608 0.0901 0.081 0.0825 0.081 2003-08-29 2003-08-29 2003-08-29 2003-08-29 2006-09-29 2006-09-29 2003-08-29 2003-08-29 2010-07-30 2010-07-30 2015-07-31 2015-07-31 2017-07-28 2017-07-28 An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation ("FDIC") or any government agency. the &#8220;Other Expenses&#8221; for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year. The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. <b>Performance </b> The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Institutional, Service, Investor, Class R6 and Class T Shares compare to those of a broad-based securities market index. Effective as of July 27, 2012, the Goldman Sachs Ultra-Short Duration Government Fund was renamed the Goldman Sachs High Quality Floating Rate Fund. Certain of the Fund&#8217;s investment strategies and policies were also changed. Performance information prior to this date reflects the Fund&#8217;s former investment strategies and policies. The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.<br /><br />The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown. 0.0375 0 0 0 0 0 0.025 <b>TOTAL RETURN CALENDAR YEAR (CLASS A)</b> 0 0.01 0 0 0 0 0 A contingent deferred sales charge (&#8220;CDSC&#8221;) of 1% is imposed on Class C Shares redeemed within 12 months of purchase. The total return for Class A Shares for the six-month period ended <br/>June 30, 2017 was 0.79%. <br/><br/>Best Quarter<br/> Q2 &#8216;09 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;+1.69%<br/><br/>Worst Quarter<br/> Q4 &#8216;08 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8211;1.70% 0.0051 0.0051 0.0051 0.0051 0.0051 0.0051 0.0051 0.0025 0.0075 0 0 0.005 0 0.0025 0.0017 0.0042 0.0008 0.0017 0.0017 0.0007 0.0017 AVERAGE ANNUAL TOTAL RETURN<br/><br/><b>For the period ended December 31, 2016</b> 0 0.0025 0 0 0 0 0 0.0536 -0.1959 0.4027 0.0017 0.0017 0.0008 0.0017 0.0017 0.0007 0.0017 0.1351 0.0658 The after-tax returns are for Class A Shares only. The after-tax returns for Institutional, Service, Investor and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. 0.1926 0.0093 0.0168 0.0059 0.0068 0.0118 0.0058 0.0093 -0.0626 0.0618 0.0053 0.1003 <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000167 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualTotalReturnsBarChart000166 column period compact * ~</div> 466 271 60 69 120 59 343 0.015 0 0 0 0 0.025 660 530 189 218 375 186 539 3.63 870 913 329 379 649 324 752 July 28, 2018 1475 1987 738 847 1432 726 1364 You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 49 and &#8220;Shareholder Guide-Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 53 and in Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts on page 90 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). 100000 250000 Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and Class T Shares compare to those of a broad-based securities market index. www.gsamfunds.com/performance The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. As of the date of the Prospectus, Class T Shares have not commenced operations. 200 After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. 647 The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. 1121 2430 Assuming complete redemption at end of period Assuming no redemption 0.0034 0.0034 0.0034 0.0034 0.0034 0.0034 0.0025 0 0 0 0 0.0025 <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000127 column period compact * ~</div> 0.0028 0.0019 0.0028 0.0019 0.0018 0.0028 0.0003 0.0003 0.0003 0.0003 0.0003 0.0003 <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualTotalReturnsBarChart000126 column period compact * ~</div> 0.009 0.0056 0.0065 0.0056 0.0055 0.009 -0.0011 -0.0011 -0.0011 -0.0011 -0.0011 -0.0011 <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000125 column period compact * ~</div> 0.0079 0.0045 0.0054 0.0045 0.0044 0.0079 <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleTransposed000124 column period compact * ~</div> 0.0031 0.0031 0.0031 0.0031 0.0031 0.0031 <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualFundOperatingExpenses000123 column period compact * ~</div> 171 <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleShareholderFees000122 column period compact * ~</div> <b>Goldman Sachs Enhanced Income Fund&#8212;Summary </b> 530 913 1987 0.0025 0 0.0025 0 0 0.0025 0.0024 0.0015 0.004 0.0023 0.0012 0.0024 0 0 0.0025 0 0 0 -0.0249 0.1329 <b>Investment Objective </b> 0.0607 -0.0084 The Goldman Sachs Enhanced Income Fund (the &#8220;Fund&#8221;) seeks to generate return in excess of traditional money market products while maintaining an emphasis on preservation of capital and liquidity. -0.0104 0.0219 453 46 46 55 45 329 519 165 168 197 168 641 <b>Fees and Expenses of the Fund </b> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $500,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 59 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 63 and in &#8220;Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts&#8221; on page 106 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). 726 296 302 844 302 351 1320 679 691 800 691 1432 0.0024 0.0015 0.0015 0.0023 0.0012 0.0024 <b>Expense Example </b> 0.0328 0.0141 0.0245 0.0991 0.0636 0.0991 0.0856 0.0991 0.0848 0.0991 0.0328 0.0991 -0.0297 -0.0468 -0.0261 -0.0129 -0.0278 -0.0129 -0.0173 -0.0129 -0.0185 -0.0129 -0.0297 -0.0129 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0081 0.0047 0.0097 0.0055 0.0044 0.0081 -0.001 -0.001 -0.001 -0.001 -0.0009 -0.001 <b>Goldman Sachs Global Income Fund&#8212;Summary </b> 0.0071 0.0037 0.0087 0.0045 0.0035 0.0071 The Goldman Sachs Global Income Fund (the &#8220;Fund&#8221;) seeks a high total return, emphasizing current income, and, to a lesser extent, providing opportunities for capital appreciation. <b>Fees and Expenses of the Fund </b> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 49 and &#8220;Shareholder Guide-Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 53 and in Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts on page 90 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). -0.0159 -0.0242 -0.0091 0.0066 0.0045 0.0066 0.0253 0.0066 0.0234 0.0066 0.0194 0.0066 0.0256 0.0066 -0.0159 0.0066 -0.0079 -0.0259 -0.01 0.022 -0.01 0.022 0.0006 0.022 -0.0126 -0.0037 -0.0079 0.022 This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.<br/><br/>The Example assumes that you invest $10,000 in Class A, Institutional, Administration, Investor, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Institutional, Administration, Investor, Class R6 and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be: <b>Portfolio Turnover </b> 0.0273 0.0141 0.0153 0.0039 0.0275 0.0039 0.0387 0.0039 0.0378 0.0039 0.0327 0.0039 0.0387 0.0039 0.0273 0.0039 Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases. 0.0201 0.0075 0.0102 0.0038 0.0185 0.0038 0.0296 0.0038 0.0285 0.0038 0.0235 0.0038 0.0296 0.0038 0.0201 0.0038 0.0593 2010-06-30 2010-06-30 2010-06-30 2010-06-30 2010-06-30 2010-06-30 2010-06-30 2010-06-30 2010-06-30 2010-06-30 2010-06-30 2010-06-30 2015-07-31 2015-07-31 2017-07-28 2017-07-28 -0.0355 0.1175 0.0623 0.0502 0.0522 -0.0092 0.0572 0.016 0.0109 0.0375 0 0 0 0 0 0.025 0 0 0 0 0 0.01 0 The Fund pays transaction costs when it buys and sells securities or instruments (i.e., &#8220;turns over&#8221; its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund&#8217;s performance. The Fund&#8217;s portfolio turnover rate for the fiscal year ended March 31, 2017 was 89% of the average value of its portfolio. <b>Principal Strategy </b> -0.0219 -0.0124 0.0176 0.0194 0.0177 0.0177 0.0177 -0.0314 0.0177 0.0185 0.0177 0.0196 -0.0219 The Fund invests, under normal circumstances, primarily in a portfolio of U.S. dollar-denominated fixed income securities, including non-mortgage securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises (&#8220;U.S. Government Securities&#8221;), corporate notes, commercial paper and fixed and floating rate asset-backed securities and foreign securities. Except for asset-backed securities and Treasury Securities deliverable into futures transactions, the Fund will not invest in securities with remaining maturities of more than 5 years as determined in accordance with the SAI. With respect to asset-backed securities, the Fund will not invest in asset-backed securities with a weighted average life of more than 5 years. The Fund may invest across a broad range of high-grade fixed income sectors with an emphasis on the preservation of capital and liquidity. In pursuing the Fund&#8217;s investment objective, the Investment Adviser will seek to enhance the Fund&#8217;s return by identifying those high grade fixed income securities that are within the maturity limitations discussed above and that the Investment Adviser believes offer advantageous yields relative to other similar securities. The Fund also intends to invest in derivatives, including (but not limited to) interest rate futures, options, interest rate swaps and credit default swaps, which are used primarily to hedge the Fund&#8217;s portfolio risks, manage the Fund&#8217;s duration and/or gain exposure to certain fixed income securities.<br /><br />The Fund&#8217;s investments must be rated at least BBB by a nationally recognized statistical rating organization (&#8220;NRSRO&#8221;) at the time of purchase, or, if unrated, must be determined by the Investment Adviser to be of comparable credit quality. The fund&#8217;s target duration range under normal interest rate conditions is expected to be approximately 9 months plus or minus 1 year, and over the past five years ended June 30, 2017, the duration of the Goldman Sachs Enhanced Income Fund Composite Index has ranged between 0.67 to 0.76 years. &#8220;Duration&#8221; is a measure of a debt security&#8217;s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security&#8217;s market price.<br /><br />The Fund&#8217;s benchmark index is the Goldman Sachs Enhanced Income Fund Composite Index, which is comprised of the Bank of America Merrill Lynch Six-Month U.S. Treasury Bill Index (50%) and the Bank of America Merrill Lynch One-Year U.S. Treasury Note Index (50%).<br /><br />Goldman Sachs&#8217; Fixed Income Investing Philosophy:<br /><br />Global fixed income markets are constantly evolving and are highly diverse&#8212;with a large number of countries, currencies, sectors, issuers and securities. We believe that inefficiencies in these complex markets cause bond prices to diverge from their fair value. To capitalize on these inefficiencies and generate consistent risk-adjusted performance, we believe it is critical to:<ul type="square"><li>Thoughtfully combine diversified sources of return by employing multiple strategies</li><li>Take a global perspective to uncover relative value opportunities</li><li>Employ focused specialist teams to identify short-term mis-pricings and incorporate long-term views</li><li>Emphasize a risk-aware approach as we view risk management as both an offensive and defensive tool</li><li>Build a strong team of skilled investors who excel on behalf of our clients</li></ul> 0.0214 0.0214 0.0286 0.0214 0.028 0.0214 0.0214 0.0089 0.0173 0.007 0.0284 0.0284 0.0173 0.0332 0.021 0.041 0.0332 0.0422 0.0422 0.041 0.0422 0.0422 0.0409 0.0422 0.0215 <b>Principal Risks of the Fund </b> 0.0424 0.0348 0.0417 0.0418 0.0424 0.0348 0.0223 0.022 0.0424 0.0416 0.0293 0.0424 0.0424 Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.<br /><br /><b>Asset-Backed Securities Risk</b>. &nbsp;Asset-backed securities are subject to certain additional risks, including &#8220;extension risk&#8221; (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and &#8220;prepayment risk&#8221; (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Asset-backed securities are subject to risks similar to those associated with mortgage-backed securities (e.g., failures of private insurers to meet their obligations and unexpectedly high rates of default on the assets backing the securities), as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.<br /><br /><b>Credit/Default Risk</b>. &nbsp;An issuer or guarantor of fixed income securities or instruments held by the Fund may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund&#8217;s liquidity and cause significant deterioration in net asset value (&#8220;NAV&#8221;).<br /><br /><b>Derivatives Risk</b>. &nbsp;The Fund's use of options, futures, swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the Securities and Exchange Commission ("SEC") proposed new regulations relating to a mutual fund's use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact a Fund's ability to invest in derivatives and other instruments and adversely affect such Fund's performance and ability to pursue its investment objectives.<br /><br /><b>Foreign Risk</b>. &nbsp;Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls, sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. In addition, the Fund will be subject to the risk that an issuer of non-U.S. sovereign debt or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay the principal or interest when due.<br /><br /><b>Interest Rate Risk</b>. &nbsp;When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund's investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.<br /><br /><b>Large Shareholder Transactions Risk.</b> &nbsp;The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund&#8217;s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund&#8217;s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund&#8217;s current expenses being allocated over a smaller asset base, leading to an increase in the Fund&#8217;s expense ratio.<br /><br /><b>U.S. Government Securities Risk</b>. &nbsp;The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by those agencies, instrumentalities and government sponsored enterprises, including those issued by the Federal National Mortgage Association (&#8220;Fannie Mae&#8221;), Federal Home Loan Mortgage Corporation (&#8220;Freddie Mac&#8221;) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including any legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future. 2017-07-28 2015-07-31 2015-07-31 2003-11-03 2003-11-03 2003-11-03 2003-11-03 2003-11-03 2003-11-03 2003-11-03 2011-07-29 2003-11-03 2017-07-28 <b>Performance </b> The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Institutional, Administration, Investor, Class R6 and Class T Shares compare to those of certain broad-based securities market indices and to the Goldman Sachs Enhanced Income Fund Composite Index, a custom benchmark comprised of the Bank of America Merrill Lynch Six-Month U.S. Treasury Bill Index (50%) and the Bank of America Merrill Lynch One-Year U.S. Treasury Note Index (50%). The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.<br /><br />The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown. <b>TOTAL RETURN CALENDAR YEAR (CLASS A)</b> The total return for Class A Shares for the six-month period ended<br/>June 30, 2017 was 0.52%.<br/><br/>Best Quarter<br/> Q2 &#8216;09 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;+1.92%<br/><br/>Worst Quarter<br/> Q3 &#8216;08 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8211;0.68% AVERAGE ANNUAL TOTAL RETURN<br/><br/><b>For the period ended December 31, 2016</b> The after-tax returns are for Class A Shares only. The after-tax returns for Institutional, Administration, Investor and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. 221 38 89 46 36 321 395 141 299 166 492 132 2008-02-15 2008-02-15 2008-02-15 2008-02-15 2008-02-15 2008-02-15 2008-02-15 2008-02-15 2010-07-30 2010-07-30 2017-07-28 2017-07-28 583 253 527 297 237 679 1127 582 1181 680 546 1218 <b>Shareholder Fees<br/>(fees paid directly from your investment) </b> <b>Annual Fund Operating Expenses<br/>(expenses that you pay each year as a percentage of the value of your investment) </b> 0.0464 -0.0167 0.0384 0.0019 -0.0059 0.0068 0.0027 -0.0033 -0.0078 0.0177 0.011 0.0214 0.0238 2011-07-29 0.0065 0.0065 0.0065 0.0065 0.0065 0.0065 0.0065 0.0025 0 0 0.0025 0 0.0075 0.0025 0.0023 0.0048 0.0014 0.0039 0.0023 0.0012 0.0023 0 0 0 0 0 0 0.0025 0 0 0 0.0025 0 0 0 0.0014 0.0014 0.0023 0.0012 0.0023 0.0023 0.0023 0.0113 0.0188 0.0079 0.0129 0.0088 0.0077 0.0113 -0.001 -0.001 -0.001 -0.0009 -0.001 -0.001 -0.0009 0.0103 0.0179 0.0069 0.0119 0.0078 0.0068 0.0103 The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. As of the date of the Prospectus, Class T Shares have not commenced operations. www.gsamfunds.com/performance The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Class C, Institutional, Investor and Class T Shares compare to those of a broad-based securities market index. The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. <ul type="square"><li><b>Non-Diversification Risk. &nbsp;</b>The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified mutual funds. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.</li></ul> Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. 1.11 You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 71 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 75 and in Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). 100000 250000 1.84 -0.004 -0.0067 -0.0023 0.0033 0.0139 0.0033 0.0077 0.0033 0.013 0.0033 0.0141 0.0033 -0.0142 0.0033 July 28, 2018 -0.0011 -0.0023 -0.0014 0.0012 0.0048 0.0012 0.0003 0.0012 0.0039 0.0012 0.0049 0.0012 -0.0032 0.0012 0.0057 0.0007 0.0026 0.008 0.0105 0.008 0.0057 0.008 0.008 0.0046 0.0105 0.008 total return 2017-06-30 0.0256 0.015 0.0136 0.0253 0.028 0.0325 0.0216 0.0225 0.0055 0.0037 0.0325 0.028 0.0251 0.0253 1995-05-15 1995-05-15 1995-05-15 1995-05-15 1991-07-17 1991-07-17 1997-03-27 1997-03-27 2007-11-30 2015-07-31 2007-11-30 2015-07-31 2017-07-28 2017-07-28 0.1171 Best Quarter 2009-06-30 0.1625 Worst Quarter 2011-09-30 -0.1098 The Fund&#8217;s &#8220;Management Fees&#8221; have been restated to reflect current fees. <br/><br/>The &#8220;Other Expenses&#8221; for Class R6 Shares have been restated<br/><br/>The Fund's "Total Annual Fund Operating Expenses After Fee Waiver and Expense Limitation" have been restated to reflect the fee waiver and expense limitation currently in effect. the &#8220;Other Expenses&#8221; for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year. 0.2648 0.1534 -0.0484 0.204 The &#8220;Total Annual Fund Operating Expenses&#8221; do not correlate to the ratios of net and total expenses to average net assets provided in the Financial Highlights, which reflect the operating expenses of the Fund and do not include &#8220;Acquired Fund Fees and Expenses.&#8221; -0.1013 -0.0784 -0.1658 0.0821 -0.0127 July 28, 2018 0.89 A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase. A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase. the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 49 and &#8220;Shareholder Guide-Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 53 and in Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts on page 90 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). 100000 250000 You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 71 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 75 and in Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). 100000 250000 Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases. Loss of money is a risk of investing in the Fund. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.<br /><br />The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Service, Investor, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Service, Investor, Class R6 and/or Class T Shares at the end of those periods, unless otherwise stated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same (except that the Example incorporates the expense limitation arrangement for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be: <ul type="square"><li><b>Non-Diversification Risk.</b>&nbsp; The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified mutual funds. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.</li></ul> An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Class C, Institutional, Investor, Class R6 and Class T Shares compare to those of a broad-based securities market index. <b>Loss of money is a risk of investing in the Fund.</b> As of the date of the Prospectus, Class T Shares have not commenced operations. <b>An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation ("FDIC") or any government agency.</b> www.gsamfunds.com/performance The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund's Class A Shares from year to year; and (b) how the average annual total returns of the Fund's Class A, Class C, Institutional, Investor, Class R, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund pays transaction costs when it buys and sells securities or instruments (i.e., &#8220;turns over&#8221; its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in the annual fund operating expenses or in the expense example above, but are reflected in the Fund&#8217;s performance. The Fund&#8217;s portfolio turnover rate for the fiscal year ended March 31, 2017 was 289% of the average value of its portfolio. The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (&#8220;Net Assets&#8221;) in a portfolio of fixed income securities of U.S. and foreign issuers. Foreign securities include securities of issuers located outside the U.S. or securities quoted or denominated in a currency other than the U.S. dollar. The Fund also enters into transactions in foreign currencies, typically through the use of forward contracts and swap contracts. The Fund may also engage in forward foreign currency transactions for both hedging and non-hedging purposes. The Fund also intends to invest in derivatives, including (but not limited to) forwards, interest rate futures, interest rate swaps and credit default swaps, which are used primarily to hedge the Fund&#8217;s portfolio risks, manage the Fund&#8217;s duration and/or gain exposure to certain fixed income securities or indices. Under normal market conditions, the Fund will:<ul type="square"><li> Have at least 30% of its Net Assets, after considering the effect of currency positions, denominated in U.S. dollars </li><li>Invest in securities of issuers in at least three countries</li><li> Seek to meet its investment objective by pursuing investment opportunities in foreign and domestic fixed income securities markets and by engaging in currency transactions to seek to enhance returns and to seek to hedge its portfolio against currency exchange rate fluctuations</li></ul>The Fund may invest more than 25% of its total assets in the securities of corporate and governmental issuers located in each of Canada, Germany, Japan and the United Kingdom as well as in the securities of U.S. issuers. Not more than 25% of the Fund&#8217;s total assets will be invested in securities of issuers in any other single foreign country. The Fund may also invest up to 10% of its total assets measured at the time of purchase (&#8220;Total Assets&#8221;) in sovereign and corporate debt securities and other instruments of issuers in emerging market countries (&#8220;emerging countries debt&#8221;).<br /><br />The fixed income securities in which the Fund may invest include: <ul type="square"><li> Securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises (&#8220;U.S. Government Securities&#8221;) and custodial receipts therefor </li><li> Securities issued or guaranteed by a foreign government or any of its political subdivisions, authorities, agencies, instrumentalities or by supranational entities </li><li> Corporate debt securities </li><li> Certificates of deposit and bankers&#8217; acceptances issued or guaranteed by, or time deposits maintained at, U.S. or foreign banks (and their branches wherever located) having total assets of more than $1 billion </li><li> Commercial paper </li><li> Privately issued adjustable rate and fixed rate mortgage loans or other mortgage-related securities (&#8220;Mortgage-Backed Securities&#8221;) and asset-backed securities</li></ul>The Fund may invest in fixed income securities rated at least BBB&#8211; or Baa3 at the time of purchase, and at least 25% of the Fund&#8217;s Total Assets will be invested in fixed income securities rated at least AAA or Aaa at the time of purchase. Securities will either be rated by a nationally recognized statistical rating organization (&#8220;NRSRO&#8221;) or, if unrated, determined by the Investment Adviser to be of comparable credit quality.<br /><br />The Fund&#8217;s target duration range under normal interest rate conditions is expected to approximate that of the Bloomberg Barclays Global Aggregate Bond (Gross, USD, Hedged) Index, plus or minus 2.5 years, and over the last five years ended June 30, 2017, the duration of the index has ranged between 5.94 and 6.82 years. &#8220;Duration&#8221; is a measure of a debt security&#8217;s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security&#8217;s market price. Subject to the above, there are no limits on the length of remaining maturities of securities held by the Fund. The approximate interest rate sensitivity of the Fund is generally comparable to that of a 6 year bond.<br /><br />The Fund seeks a return in excess of its benchmark index, the Bloomberg Barclays Global Aggregate Bond Index.<br /><br />THE FUND IS &#8220;NON-DIVERSIFIED&#8221; UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED (THE &#8220;INVESTMENT COMPANY ACT&#8221;), AND MAY INVEST A LARGER PERCENTAGE OF ITS ASSETS IN FEWER ISSUERS THAN DIVERSIFIED MUTUAL FUNDS. The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. As of the date of the Prospectus, Class T Shares have not commenced operations. As of the date of the Prospectus, Class T Shares have not commenced operations. www.gsamfunds.com/performance The Fund's past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. The bar chart (including "Best Quarter" and "Worst Quarter" information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. total return After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. 2017-06-30 0.0629 Actual after-tax returns depend on an investor's tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. Best Quarter The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases. 2009-06-30 0.1616 Worst Quarter 2008-12-31 the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year. -0.1318 <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000095 column period compact * ~</div> Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases. <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualTotalReturnsBarChart000096 column period compact * ~</div> total return 2017-06-30 0.0099 Best Quarter A contingent deferred sales charge (&#8220;CDSC&#8221;) of 1% is imposed on Class C Shares redeemed within 12 months of purchase. The Fund&#8217;s &#8220;Management Fees&#8221; have been restated to reflect current fees. <br/><br/>The Fund's &#8220;Total Annual Fund Operating Expenses After Fee Waiver and Expense Limitation&#8221; have been restated to reflect the fee waiver and expense limitations currently in effect. 2012-09-30 The &#8220;Other Expenses&#8221; for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year. 0.0526 Worst Quarter 2011-09-30 -0.0318 The after-tax returns are for Class A Shares only. The after-tax returns for Institutional, Investor, Separate Account Institutional and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. www.gsamfunds.com/performance The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Institutional, Investor, Separate Account Institutional, Class R6 and Class T Shares compare to those of a broad-based securities market index. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. Loss of money is a risk of investing in the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 71 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 75 and in Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). 8.63 250000 100000 total return 2017-06-30 0.0095 Best Quarter 2009-09-30 0.0475 Worst Quarter 2008-03-31 -0.0243 <b>Shareholder Fees<br />(fees paid directly from your investment)</b> <b>Annual Fund Operating Expenses<br />(expenses that you pay each year as a percentage of the value of your investment)</b> <b>Principal Risks of the Fund </b> Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.<br /><br /><b>Credit/Default Risk.</b> &nbsp;An issuer or guarantor of fixed income securities or instruments held by the Fund may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund&#8217;s liquidity and cause significant deterioration in net asset value (&#8220;NAV&#8221;).<br /><br /><b>Derivatives Risk.</b> &nbsp;The Fund&#8217;s use of forwards, interest rate futures, interest rate swaps, credit default swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund&#8217;s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund&#8217;s ability to invest in derivatives and other instruments and adversely affect the Fund&#8217;s performance and ability to pursue its investment objectives.<br /><br /><b>Foreign and Emerging Countries Risk.</b> &nbsp;Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls (including repatriation restrictions), sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. These risks may be more pronounced in connection with the Fund&#8217;s investments in securities of issuers located in emerging countries.<br /><br /><b>Interest Rate Risk.</b> &nbsp;When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rate are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund&#8217;s investments. Fluctuations in interest rates may also affect the yield and liquidity of fixed income securities and instruments held by the Fund.<br /><br /><b>Large Shareholder Transactions Risk.</b> &nbsp;The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund&#8217;s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund&#8217;s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund&#8217;s current expenses being allocated over a smaller asset base, leading to an increase in the Fund&#8217;s expense ratio.<br /><br /><b>Mortgage-Backed and Other Asset-Backed Securities Risk.</b> &nbsp;Mortgage-related and other asset-backed securities are subject to certain additional risks, including &#8220;extension risk&#8221; (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and &#8220;prepayment risk&#8221; (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Mortgage-backed securities offered by non-governmental issuers are subject to other risks as well, including failures of private insurers to meet their obligations and unexpectedly high rates of default on the mortgages backing the securities. Other asset-backed securities are subject to risks similar to those associated with mortgage-backed securities, as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.<br /><br /><b>Non-Diversification Risk.</b> &nbsp;The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified mutual funds. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.<br /><br /><b>Sovereign Default Risk.</b> &nbsp;The issuer of the non-U.S. sovereign debt held by the Fund or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay the principal or interest when due. This may result from political or social factors, the general economic environment of a country or levels of foreign debt or foreign currency exchange rates.<br /><br /><b>U.S. Government Securities Risk.</b> &nbsp;The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by the Federal National Mortgage Association (&#8220;Fannie Mae&#8221;), Federal Home Loan Mortgage Corporation (&#8220;Freddie Mac&#8221;) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including their legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future. Assuming complete redemption at end of period Assuming no redemption July 28, 2018 <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleShareholderFees000142 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualFundOperatingExpenses000143 column period compact * ~</div> 0.59 July 28, 2018 Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation ("FDIC") or any government agency. <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleTransposed000144 column period compact * ~</div> The Fund's "Management Fees" have been restated to reflect current fees.<br/><br/>The "Other Expenses" for Class R6 Shares have been restated <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000145 column period compact * ~</div> the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year. <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualTotalReturnsBarChart000146 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000147 column period compact * ~</div> You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $500,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 59 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 63 and in &#8220;Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts&#8221; on page 106 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). 500000 250000 The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Institutional, Service, Investor, Class R6 and Class T Shares compare to those of a broad-based securities market index. As of the date of the Prospectus, Class T Shares have not commenced operations. AVERAGE ANNUAL TOTAL RETURN <br/><br/><b>For the period ended December 31, 2016</b> www.gsamfunds.com/performance The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The after-tax returns are for Class A Shares only. The after-tax returns for Institutional, Service, Investor and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. total return 2017-06-30 0.0079 Best Quarter 2009-06-30 0.0169 Worst Quarter 2008-12-31 -0.017 <b>Performance </b> The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Class C, Institutional, Service, Investor, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.<br /><br />The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown. <ul type="square"><li><b>Non-Diversification Risk.</b>&nbsp; The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified mutual funds. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.</li></ul> <b>Shareholder Fees<br/>(fees paid directly from your investment)</b> <b>Annual Fund Operating Expenses<br/>(expenses that you pay each year as a percentage of the value of your investment)</b> Performance has been adjusted to reflect the higher maximum sales charge (load) imposed on purchases of Class T Shares. Class A Shares had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class A Shares impose a lower maximum sales charge (load) on purchases. <b>TOTAL RETURN CALENDAR YEAR (CLASS A)</b> The total return for Class A Shares for the six-month period ended <br/>June 30, 2017 was 1.42%.<br/><br/>Best Quarter<br/> Q3&#8216; 09 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;+5.47%<br/><br/>Worst Quarter<br/> Q3 &#8216;08 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8211;2.22%<br /> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleShareholderFees000162 column period compact * ~</div> AVERAGE ANNUAL TOTAL RETURN<br/><br/><b>For the period ended December 31, 2016 </b> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualFundOperatingExpenses000163 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleTransposed000164 column period compact * ~</div> AVERAGE ANNUAL TOTAL RETURN<br/><br/><b>For the period ended December 31, 2016 </b> Assuming complete redemption at end of period <b>Shareholder Fees<br/>(fees paid directly from your investment):</b> Assuming no redemption <b>Goldman Sachs Inflation Protected Securities Fund&#8212;Summary </b> <b>Annual Fund Operating Expenses <br/>(expenses that you pay each year as a percentage of the value of your investment):</b> <b>Investment Objective </b> The Goldman Sachs Inflation Protected Securities Fund (the &#8220;Fund&#8221;) seeks real return consistent with preservation of capital. <b>Fees and Expenses of the Fund </b> 476 282 70 121 80 69 352 This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 59 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 63 and in &#8220;Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts&#8221; on page 106 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). 711 582 242 399 271 237 590 965 1008 429 698 478 419 847 <b>Expense Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.<br /><br />The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Investor, Class R, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Investor, Class R, Class R6 and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be: 1689 2194 969 1548 1075 946 1582 <b>Portfolio Turnover </b> The Fund pays transaction costs when it buys and sells securities or instruments (i.e., &#8220;turns over&#8221; its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund&#8217;s performance. The Fund&#8217;s portfolio turnover rate for the fiscal year ended March 31, 2017 was 189% of the average value of its portfolio. <b>Principal Strategy </b> The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (&#8220;Net Assets&#8221;) in inflation protected securities (&#8220;IPS&#8221;) of varying maturities issued by the U.S. Treasury (&#8220;TIPS&#8221;) and other U.S. and non-U.S. Government agencies and corporations (&#8220;CIPS&#8221;). IPS are designed to provide inflation protection to investors. The U.S. Treasury uses the Consumer Price Index for Urban Consumers (the &#8220;CPIU&#8221;) as the measurement of inflation, while other issuers of IPS may use other indices as the measure of inflation. IPS are income-generating instruments whose interest and principal payments are adjusted for inflation&#8212;a sustained increase in prices that erodes the purchasing power of money. The inflation adjustment, which is typically applied monthly to the principal of the bond, follows a designated inflation index, such as the CPIU. A fixed coupon rate is applied to the inflation-adjusted principal so that as inflation rises, both the principal value and the interest payments increase. This can provide investors with a hedge against inflation, as it helps preserve the purchasing power of an investment. Because of this inflation adjustment feature, inflation protected bonds typically have lower yields than conventional fixed-rate bonds.<br /><br />The remainder of the Fund&#8217;s Net Assets (up to 20%) may be invested in other fixed income securities, including securities issued or guaranteed by the U.S. Government, its agencies, instrumentalities or sponsored enterprises (&#8220;U.S. Government Securities&#8221;), asset-backed securities, mortgage-backed securities, corporate securities, non-investment grade fixed income securities and securities issued by foreign corporate and governmental issuers.<br /><br />The Fund also intends to invest in derivatives, including (but not limited to) futures and inflation-linked swaps, primarily to hedge the Fund&#8217;s portfolio risks, manage the Fund&#8217;s duration, and/or gain exposure to certain fixed income securities. The Fund&#8217;s target duration range under normal interest rate conditions is expected to approximate that of the Bloomberg Barclays U.S. Treasury Inflation-Protected Securities (TIPS) Index, plus or minus 2 years, and over the past five years ended June 30, 2017, the duration of this index has ranged between 5.10 and 8.21 years. &#8220;Duration&#8221; is a measure of a debt security&#8217;s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security&#8217;s market price.<br /><br />The Fund&#8217;s benchmark index is the Bloomberg Barclays U.S. Treasury Inflation-Protected Securities (TIPS) Index.<br /><br />GSAM&#8217;s Fixed Income Investing Philosophy:<br /><br />Global fixed income markets are constantly evolving and are highly diverse&#8212;with a large number of countries, currencies, sectors, issuers and securities. We believe that inefficiencies in these complex markets cause bond prices to diverge from their fair value. To capitalize on these inefficiencies and generate consistent risk-adjusted performance, we believe it is critical to:<ul type="square"><li> Thoughtfully combine diversified sources of return by employing multiple strategies</li><li> Take a global perspective to uncover relative value opportunities</li><li>Employ focused specialist teams to identify short-term mis-pricings and incorporate long-term views</li><li>Emphasize a risk-aware approach as we view risk management as both an offensive and defensive tool</li><li>Build a strong team of skilled investors who excel on behalf of our clients</li></ul> <b>Principal Risks of the Fund </b> Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.<br /><br /><b>CPIU Measurement Risk.</b>&nbsp;&nbsp;The CPIU is a measurement of changes in the cost of living, made up of components such as housing, food, transportation and energy. There can be no assurance that the CPIU will accurately measure the real rate of inflation in the prices of goods and services, which may affect the valuation of the Fund.<br /><br /><b>Credit/Default Risk.</b>&nbsp;&nbsp;An issuer or guarantor of fixed income securities or instruments held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund&#8217;s liquidity and cause significant deterioration in net asset value (&#8220;NAV&#8221;).<br /><br /><b>Deflation Risk.</b>&nbsp;&nbsp;The Fund will be subject to the risk that prices throughout the economy may decline over time, resulting in &#8220;deflation.&#8221; If this occurs, the principal and income of IPS held by the Fund would likely decline in price, which could result in losses for the Fund.<br /><br /><b>Derivatives Risk.</b>&nbsp;&nbsp;The Fund&#8217;s use of futures and inflation-linked swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund&#8217;s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund&#8217;s ability to invest in derivatives and other instruments and adversely affect the Fund&#8217;s performance and ability to pursue its investment objectives.<br /><br /><b>Inflation Protected Securities Risk.</b>&nbsp;&nbsp;The value of IPS generally fluctuates in response to changes in real interest rates, which are in turn tied to the relationship between nominal interest rates and the rate of inflation. If nominal interest rates increased at a faster rate than inflation, real interest rates might rise, leading to a decrease in the value of IPS. The market for IPS may be less developed or liquid, and more volatile, than certain other securities markets.<br /><br /><b>Interest Rate Risk.</b>&nbsp;&nbsp;When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund&#8217;s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.<br /><br /><b>Large Shareholder Transactions Risk.</b>&nbsp;&nbsp;The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund&#8217;s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund&#8217;s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund&#8217;s current expenses being allocated over a smaller asset base, leading to an increase in the Fund&#8217;s expense ratio.<br /><br /><b>Tax Consequences Risk.</b>&nbsp;&nbsp;The Fund will be subject to the risk that adjustments for inflation to the principal amount of an inflation indexed bond may give rise to original issue discount, which will be includable in the Fund&#8217;s gross income.<br /><br /><b>U.S. Government Securities Risk.</b>&nbsp;&nbsp;The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by those agencies, instrumentalities and government sponsored enterprises, including those issued by the Federal National Mortgage Association (&#8220;Fannie Mae&#8221;), Federal Home Loan Mortgage Corporation (&#8220;Freddie Mac&#8221;) and the Federal Home Loan Banks, are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources including any legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future. 0.0375 0 0 0 0 0 0 0.025 0 0 0 0 0 0 0.01 0 <b>Performance </b> The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Class C, Institutional, Investor, Class R, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.<br /><br />The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown. <b>TOTAL RETURN CALENDAR YEAR (CLASS A)</b> The total return for Class A Shares for the six-month<br/> period ended June 30, 2017 was 0.62%.<br/><br/>Best Quarter<br/> Q1 &#8216;08 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;+5.99%<br/><br/>Worst Quarter<br/> Q2 &#8216;13 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8211;6.91% 182 582 1008 AVERAGE ANNUAL TOTAL RETURN <br/><br/><b>For the period ended December 31, 2016</b> <b>Investment Objective </b> <b>Expense Example </b> <b>Portfolio Turnover </b> <b>Principal Strategy </b> 2194 The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. 0.06 -0.0179 0.1195 0.044 0.0393 <b>Investment Objective </b> <b>Expense Example </b> <b>Portfolio Turnover </b> <b>Principal Strategy </b> 0.0723 0.0067 0.0628 0.0052 0.03 total return 2017-06-30 0.0142 Best Quarter 2009-09-30 <b>Goldman Sachs High Yield Floating Rate Fund&#151;Summary </b> 0.0547 Worst Quarter 2008-09-30 -0.0222 0.0041 0.0041 0.0041 0.0041 0.0041 0.0041 0.0041 0.0041 0.0025 0.0075 0 0.0025 0 0.005 0 0.0025 The Goldman Sachs High Yield Floating Rate Fund (the &#147;Fund&#148;) seeks a high level of current income. 0.0027 0.0027 0.0016 0.0027 0.0043 0.0018 0.0052 0.0027 <b>Fees and Expenses of the Fund </b> <b>Investment Objective </b> <b>Expense Example </b> <b>Portfolio Turnover </b> <b>Principal Strategy </b> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#147;Shareholder Guide&#151;Common Questions Applicable to the Purchase of Class A Shares&#148; beginning on page 71 and &#147;Shareholder Guide&#151;Common Questions Applicable to the Purchase of Class T Shares&#148; beginning on page 75 and in Appendix C&#151;Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and &#147;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#148; beginning on page B-122 of the Fund&#146;s Statement of Additional Information (&#147;SAI&#148;). This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.<br /><br />The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Investor, Class R and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Investor, Class R and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund&#146;s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be: <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleShareholderFees000102 column period compact * ~</div> The Fund pays transaction costs when it buys and sells securities or instruments (i.e., &#147;turns over&#148; its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund&#146;s performance. The Fund&#146;s portfolio turnover rate for the fiscal year ended March 31, 2017 was 55% of the average value of its portfolio. <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualFundOperatingExpenses000103 column period compact * ~</div> The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (&#147;Net Assets&#148;) in domestic or foreign floating rate loans and other floating or variable rate obligations rated below investment grade. Non-investment grade obligations are those rated BB+, Ba1 or below by a nationally recognized statistical rating organization (&#147;NRSRO&#148;), or, if unrated, determined by the Investment Adviser to be of comparable credit quality, and are commonly referred to as &#147;junk bonds.&#148;<br /><br />The Fund&#146;s investments in floating and variable rate obligations may include, without limitation, senior secured loans (including assignments and participations), second lien loans, senior unsecured and subordinated loans, senior and subordinated corporate debt obligations (such as bonds, debentures, notes and commercial paper), debt issued by governments, their agencies and instrumentalities, and debt issued by central banks. The Fund may invest indirectly in loans by purchasing participations or sub-participations from financial institutions. Participations and sub-participations represent the right to receive a portion of the principal of, and all of the interest relating to such portion of, the applicable loan. The Fund expects to invest principally in the U.S. loan market and, to a lesser extent, in the European loan market. The Fund may also invest in other loan markets, although it does not currently intend to do so.<br /><br />Under normal conditions, the Fund may invest up to 20% of its Net Assets in fixed income instruments, regardless of rating, including fixed rate corporate bonds, government bonds, convertible debt obligations, and mezzanine fixed income instruments. The Fund may also invest in floating or variable rate instruments that are rated investment grade and in preferred stock, repurchase agreements and cash securities.<br /><br />The Fund may also invest in derivative instruments. Derivatives are instruments that have a value based on another instrument, exchange rate or index. The Fund&#146;s investments in derivatives may include credit default swaps on credit and loan indices, forward contracts and total return swaps, among others. The Fund may use currency management techniques, such as forward foreign currency contracts, for hedging or non-hedging purposes. The Fund may invest in interest rate futures and swaps to manage the portfolio&#146;s duration. Derivatives that provide exposure to floating or variable rate loans or obligations rated below investment grade are counted towards the Fund&#146;s 80% policy.<br /><br />The Fund&#146;s target duration range under normal interest rate conditions is expected to approximate that of the Credit Suisse Leveraged Loan Index, plus or minus one year, and over the last five years ended June 30, 2017, the duration of the Index has ranged between 0.09 and 1.76 years. The Fund&#146;s investments in floating rate obligations will generally have short to intermediate maturities (approximately 4-7 years). &#147;Duration&#148; is a measure of a debt security&#146;s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security&#146;s market price.<br /><br />The Fund&#146;s investments are selected using a bottom-up analysis that incorporates fundamental research, a focus on market conditions and pricing trends, quantitative research, and news or market events. The selection of individual investments is based on the overall risk and return profile of the investment taking into account liquidity, structural complexity, cash flow uncertainty and downside potential. Research analysts and portfolio managers systematically assess portfolio positions, taking into consideration, among other factors, broader macroeconomic conditions and industry and company-specific financial performance and outlook. Based upon this analysis, the Investment Adviser will sell positions determined to be overvalued and reposition the portfolio in more attractive investment opportunities on a relative basis given the current climate.<br /><br />The Fund&#146;s benchmark index is the Credit Suisse Leveraged Loan Index. <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleTransposed000104 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualTotalReturnsBarChart000106 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000107 column period compact * ~</div> 0 0.0025 0 0 0 0 0 0 0 0 0 0 0.0025 0 0 0 0.0027 0.0027 0.0018 0.0018 0.0027 0.0027 0.0016 0.0027 -0.0088 -0.0147 -0.005 0.0394 0.0136 0.0394 0.0343 0.0394 0.0275 0.0394 0.0334 0.0394 0.0345 0.0394 -0.0088 0.0394 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0094 0.0169 0.006 0.011 0.0069 0.0119 0.0058 0.0094 -0.0015 -0.0014 -0.0015 -0.0015 -0.0015 -0.0015 -0.0015 -0.0015 0.0079 0.0154 0.0045 0.0095 0.0054 0.0104 0.0044 0.0079 1991-08-02 1991-08-02 1991-08-02 1991-08-02 1997-08-15 1997-08-15 1995-08-01 1995-08-01 1997-03-12 1997-03-12 2010-07-30 2010-07-30 2015-07-31 2015-07-31 2017-07-28 2017-07-28 0.045 0 0 0 0 0 0 0.025 0.0271 0.0084 0.0133 0.0358 0.0274 0.0358 0.0388 0.0327 0.0358 0.0358 0.0376 0.0358 0.0386 0.0358 0.0271 0.0358 0 0.01 0 0 0 0 0 0 0.0375 0.0205 0.0223 0.0439 0.0338 0.0439 0.0439 0.0452 0.0395 0.0439 0.0376 0.0451 0.0439 0.0375 0.0439 0.0518 0.0292 0.0308 0.0595 0.0383 0.0519 0.0558 0.0559 0.0451 0.0536 0.0352 0.0558 0.0559 0.0518 0.0595 <b>Goldman Sachs Short Duration Government Fund&#8212;Summary </b> -0.02 -0.02 -0.02 -0.02 -0.02 -0.02 -0.02 -0.02 <b>Principal Risks of the Fund </b> <b>Investment Objective </b> 0.0067 0.0067 0.0067 0.0067 0.0067 0.0067 0.0067 0.0067 Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.<ul type="square"><li><b>Conflict of Interest Risk.</b> &nbsp;Affiliates of the Investment Adviser may participate in the primary and secondary market for loan obligations. Because of limitations imposed by applicable law, the presence of the Investment Adviser&#8217;s affiliates in the loan obligations market may restrict the Fund&#8217;s ability to acquire some loan obligations or affect the timing or price of such acquisitions. Also, because the Investment Adviser may wish to invest in the publicly traded securities of a borrower, it may not have access to material non-public information regarding the borrower to which other lenders have access.</li><li><b>Credit/Default Risk.</b> &nbsp;An issuer or guarantor of fixed income securities or instruments held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund&#8217;s liquidity and cause significant deterioration in net asset value (&#8220;NAV&#8221;). These risks are more pronounced in connection with the Fund&#8217;s investments in non-investment grade fixed income securities.</li><li><b>Derivatives Risk.</b> &nbsp;The Fund's use of credit default swaps, total return swaps, futures, forwards and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligations. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund's use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund's ability to invest in derivatives and other instruments and adversely affect the Fund's performance and ability to pursue its investment objectives.</li><li><b>Floating and Variable Rate Obligations Risk.</b> &nbsp;For floating and variable rate obligations, there may be a lag between an actual change in the underlying interest rate benchmark and the reset time for an interest payment of such an obligation, which could harm or benefit the Fund, depending on the interest rate environment or other circumstances. In a rising interest rate environment, for example, a floating or variable rate obligation that does not reset immediately would prevent the Fund from taking full advantage of rising interest rates in a timely manner. However, in a declining interest rate environment, the Fund may benefit from a lag due to an obligation&#8217;s interest rate payment not being immediately impacted by a decline in interest rates.<br /><br />Certain floating and variable rate obligations have an interest rate floor feature, which prevents the interest rate payable by the security from dropping below a specified level as compared to a reference interest rate (the &#8220;reference rate&#8221;), such as LIBOR. Such a floor protects the Fund from losses resulting from a decrease in the reference rate below the specified level. However, if the reference rate is below the floor, there will be a lag between a rise in the reference rate and a rise in the interest rate payable by the obligation, and the Fund may not benefit from increasing interest rates for a significant amount of time.</li><li><b>Foreign Risk.</b> &nbsp;Foreign investments may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls, sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States or other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of instruments denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time.</li><li><b>Large Shareholder Transactions Risk.</b> &nbsp;The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund&#8217;s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund&#8217;s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund&#8217;s current expenses being allocated over a smaller asset base, leading to an increase in the Fund&#8217;s expense ratio.</li><li><b>Liquidity Risk.</b> &nbsp;The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests or other reasons. To meet redemption requests, the Fund may be forced to sell investments at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.</li><li><b>Loan-Related Investments Risk.</b> &nbsp;In addition to risks generally associated with debt investments, loan-related investments such as loan participations and assignments are subject to other risks. Although a loan obligation may be fully collateralized at the time of acquisition, the collateral may decline in value, be relatively illiquid, or lose all or substantially all of its value subsequent to investment. Many loan investments are subject to legal or contractual restrictions on resale and may be relatively illiquid and difficult to value. There is less readily available, reliable information about most loan investments than is the case for many other types of securities. Substantial increases in interest rates may cause an increase in loan obligation defaults. With respect to loan participations, the Fund may not always have direct recourse against a borrower if the borrower fails to pay scheduled principal and/or interest; may be subject to greater delays, expenses and risks than if the Fund had purchased a direct obligation of the borrower; and may be regarded as the creditor of the agent lender (rather than the borrower), subjecting the Fund to the creditworthiness of that lender as well. Investors in loans, such as the Fund, may not be entitled to rely on the anti-fraud protections of the federal securities laws, although they may be entitled to certain contractual remedies. The market for loan obligations may be subject to irregular trading activity, wide bid/ask spreads and extended trade settlement periods. Because transactions in many loans are subject to extended trade settlement periods, the Fund may not receive the proceeds from the sale of a loan for a period after the sale. As a result, sale proceeds related to the sale of loans may not be available to make additional investments or to meet the Fund&#8217;s redemption obligations for a period after the sale of the loans, and, as a result, the Fund may have to sell other investments or engage in borrowing transactions, such as borrowing from its credit facility, if necessary to raise cash to meet its obligations.<br /><br />Senior loans hold the most senior position in the capital structure of a business entity, and are typically secured with specific collateral, but are nevertheless usually rated below investment grade. Because second lien loans are subordinated or unsecured and thus lower in priority of payment to senior loans, they are subject to the additional risk that the cash flow of the borrower and property securing the loan or debt, if any, may be insufficient to meet scheduled payments after giving effect to the senior secured obligations of the borrower. Second lien loans generally have greater price volatility than senior loans and may be less liquid.</li><li><b>Market Risk.</b> &nbsp;The market value of the securities in which the Fund invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/or general economic conditions throughout the world due to increasingly interconnected global economies and financial markets.</li><li><b>Non-Investment Grade Fixed Income Securities Risk.</b> &nbsp;Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as &#8220;junk bonds&#8221;) are considered speculative and are subject to the increased risk of an issuer&#8217;s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity.</li></ul> 0.0025 0.0075 0 0.0025 0 0.005 0 0.0025 0.0015 0.0006 0.004 0.0031 0.0015 0.0015 0.0005 0.0015 The Goldman Sachs Short Duration Government Fund (the &#8220;Fund&#8221;) seeks a high level of current income <b>Fees and Expenses of the Fund </b> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $500,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 59 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 63 and in &#8220;Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts&#8221; on page 106 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). 0 0.0025 0 0 0 0 0 0 0 0 0 0.0025 0 0 0 0 0.0015 0.0015 0.0006 0.0006 0.0015 0.0015 0.0005 0.0015 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0108 0.0183 0.0074 0.0124 0.0083 0.0133 0.0073 0.0108 -0.0003 -0.0003 0 0 -0.0003 -0.0003 0 -0.0003 <b>Expense Example </b> 0.0105 0.018 0.0074 0.0124 0.008 0.013 0.0073 0.0105 This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.<br /><br />The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Service, Investor, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Service, Investor, Class R6 and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be: 552 283 76 126 82 132 75 354 775 573 237 393 262 418 233 582 1016 988 411 681 458 726 406 828 1705 2145 918 1500 1023 1599 906 1532 <b>Goldman Sachs Short Duration Income Fund&#8212;Summary </b> 183 573 988 2145 0.0137 -0.275 Assuming complete redemption at end of period 0.5003 Assuming no redemption 0.1333 0.0223 0.154 0.075 0.0171 -0.0522 0.1358 0.0855 0.0618 0.0488 0.1708 0.1151 0.1708 0.1376 0.1708 0.1322 0.1708 0.1384 0.1708 0.1312 0.1708 0.1377 0.1708 0.0855 0.1708 <b>Shareholder Fees<br/>(fees paid directly from your investment)</b> 0.0536 0.0254 0.0301 0.0736 0.0551 0.0736 0.0665 0.0736 0.0616 0.0736 0.0659 0.0736 0.0603 0.0736 0.0668 0.0736 0.0536 0.0736 The Goldman Sachs Short Duration Income Fund (the &#8220;Fund&#8221;) seeks total return consisting of income and capital appreciation. 0.0518 0.023 0.0281 0.0755 0.0487 0.0755 0.0602 0.0755 0.055 0.0755 0.0603 0.0755 0.0518 0.0755 0.0601 0.0284 0.0322 0.0684 0.0549 0.0689 0.0664 0.0684 0.0611 0.0684 0.0639 0.0811 0.0583 0.0811 0.0665 0.0684 0.0601 0.0684 <b>Fees and Expenses of the Fund </b> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $500,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 59 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 63 and in &#8220;Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts&#8221; on page 106 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). 1997-08-01 1997-08-01 1997-08-01 1997-08-01 1997-08-15 1997-08-15 1997-08-01 1997-08-01 1997-08-01 1997-08-01 2007-11-30 2007-11-30 2007-11-30 2007-11-30 2015-07-31 2015-07-31 2017-07-28 2017-07-28 This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.<br /><br />The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Investor, Class R, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Investor, Class R, Class R6 and/or Class T Shares at the end of those periods, unless otherwise stated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be: <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleShareholderFees000172 column period compact * ~</div> <b>Performance </b> The Fund pays transaction costs when it buys and sells securities or instruments (i.e., &#8220;turns over&#8221; its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund&#8217;s performance. The Fund&#8217;s portfolio turnover rate for the fiscal year ended March 31, 2017 was 165% of the average value of its portfolio. The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#146;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#146;s Class A, Class C, Institutional, Investor, Class R and Class T Shares compare to those of a broad-based securities market index. The Fund&#146;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.<br/><br/> The bar chart (including &#147;Best Quarter&#148; and &#147;Worst Quarter&#148; information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown. The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (&#8220;Net Assets&#8221;) in U.S. or foreign fixed income securities. These fixed income securities include securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises (&#8220;U.S. Government Securities&#8221;), corporate debt securities, collateralized loan obligations, agency and privately issued adjustable rate and fixed rate mortgage loans or other mortgage-related securities (&#8220;Mortgage-Backed Securities&#8221;), asset-backed securities, high yield non-investment grade fixed income securities (i.e., securities rated BB+, Ba1 or below by a nationally recognized statistical rating organization (&#8220;NRSRO&#8221;) or, if unrated, determined by the Investment Adviser to be of comparable credit quality), high yield floating rate loans (&#8220;Bank Loans&#8221;) and sovereign and corporate debt securities, and other instruments of issuers in emerging market countries (&#8220;emerging countries debt&#8221;). The Fund may also invest in fixed income securities issued by or on behalf of states, territories, and possessions of the United States (including the District of Columbia) (&#8220;Municipal Securities&#8221;) and may purchase securities of issuers in default. The Fund may seek to obtain exposure to these investments through investments in affiliated or unaffiliated investment companies including the Goldman Sachs High Yield Fund, Goldman Sachs Emerging Markets Debt Fund and Goldman Sachs Local Emerging Markets Debt Fund.<br /><br />The Fund may not invest, in the aggregate, more than 20% of its total assets measured at the time of purchase (&#8220;Total Assets&#8221;) in (i) emerging countries debt and (ii) non-investment grade fixed income securities.<br /><br />The Fund may engage in forward foreign currency transactions for both hedging and non-hedging purposes. The Fund may invest in obligations of domestic and foreign issuers that are denominated in currencies other than the U.S. dollar (and may also be denominated in a currency other than that associated with the issuer&#8217;s domicile).<br /><br />The Fund also intends to invest in other derivative instruments, including (but not limited to) interest rate futures contracts, options (including options on futures contracts, swaps, bonds and indexes), swaps (including credit default, index, basis, total return, volatility and currency swaps) and other forward contracts. The Fund may use derivatives, instead of buying and selling debt directly, to manage duration, to gain exposure to certain securities or indexes, or to take short positions with respect to individual securities or indexes. The Fund may invest in derivatives that are not denominated in U.S. dollars.<br /><br />Except as described above, the Fund invests in fixed income securities rated at least BBB- or Baa3 at the time of purchase. The Fund will deem a security to have the highest credit rating assigned to it from an NRSRO at the time of purchase, if more than one NRSRO rates the security. Unrated securities may be purchased by the Fund if they are determined by the Investment Adviser to be of comparable credit quality.<br /><br />The Fund&#8217;s maximum target duration under normal interest rate conditions is expected to be approximately 3.5 years, and during the past five years ended June 30, 2017, the duration of the Goldman Sachs Short Duration Income Fund Composite Index ranged between 2.68 and 2.80 years. &#8220;Duration&#8221; is a measure of a debt security&#8217;s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security&#8217;s market price.<br /><br />In pursuing its investment objective, the Fund uses the Goldman Sachs Short Duration Income Fund Composite Index, which is comprised of the Bloomberg Barclays U.S. 1-5 Year Corporate Bond Index (50%) and the Bloomberg Barclays U.S. 1-5 Year Government Bond Index (50%) (the &#8220;Index&#8221;) as its performance benchmark, but the Fund will not attempt to replicate the Index. The Fund may, therefore, invest in securities that are not included in the Index.<br /><br />GSAM&#8217;s Fixed Income Investing Philosophy:<br /><br />Global fixed income markets are constantly evolving and are highly diverse&#8212;with a large number of countries, currencies, sectors, issuers and securities. We believe that inefficiencies in these complex markets cause bond prices to diverge from their fair value. To capitalize on these inefficiencies and generate consistent risk-adjusted performance, we believe it is critical to:<ul type="square"><li> Thoughtfully combine diversified sources of return by employing multiple strategies</li><li> Take a global perspective to uncover relative value opportunities</li><li> Employ focused specialist teams to identify short-term mis-pricings and incorporate long-term views</li><li> Emphasize a risk-aware approach as we view risk management as both an offensive and defensive tool</li><li> Build a strong team of skilled investors who excel on behalf of our clients</li></ul> <b>Annual Fund Operating Expenses<br/>(expenses that you pay each year as a percentage of the value of your investment) </b> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualFundOperatingExpenses000173 column period compact * ~</div> <b>TOTAL RETURN</b> <b>CALENDAR YEAR (CLASS A)</b> <b>Portfolio Turnover </b> You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 59 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 63 and in &#8220;Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts&#8221; on page 106 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). The total return for Class A Shares for the six-month<br/> period ended June 30, 2017 was 1.49%.<br/><br/>Best Quarter<br/> Q1 &#8216;12 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;+2.66%<br/><br/>Worst Quarter<br/> Q4 &#8216;15 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8211;1.77%<br /> The Fund pays transaction costs when it buys and sells securities or instruments (i.e., &#8220;turns over&#8221; its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund&#8217;s performance. The Fund&#8217;s portfolio turnover rate for the fiscal year ended March 31, 2017 was 173% of the average value of its portfolio. 100000 250000 <b>Principal Strategy </b> <b>Shareholder Fees<br/>(fees paid directly from your investment) </b> <b>Annual Fund Operating Expenses<br/>(expenses that you pay each year as a percentage of the value of your investment)</b> The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (&#8220;Net Assets&#8221;) in securities issued or guaranteed by the U.S. Government, its agencies, instrumentalities or sponsored enterprises (&#8220;U.S. Government Securities&#8221;) and in repurchase agreements collateralized by such securities. Substantially all of the Fund&#8217;s Net Assets will be invested in U.S. Government Securities and instruments based on U.S. Government Securities. The Fund also intends to invest in derivatives, including (but not limited to) interest rate futures, options and interest rate swaps, which are used primarily to hedge the Fund&#8217;s portfolio risks, manage the Fund&#8217;s duration and/or gain exposure to certain fixed income securities. 100% of the Fund&#8217;s portfolio will be invested in U.S. dollar-denominated securities.<br /><br />The Fund&#8217;s target duration range under normal interest rate conditions is expected to approximate that of the Bank of America Merrill Lynch Two-Year U.S. Treasury Note Index, plus or minus 1 year, and over the past five years ended June 30, 2017, the duration of this index has ranged between 1.89 and 2.00 years. &#8220;Duration&#8221; is a measure of a debt security&#8217;s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security&#8217;s market price.<br /><br />The Fund&#8217;s benchmark index is the Bank of America Merrill Lynch Two-Year U.S. Treasury Note Index.<br /><br />GSAM&#8217;s Fixed Income Investing Philosophy:<br /><br />Global fixed income markets are constantly evolving and are highly diverse&#8212;with a large number of countries, currencies, sectors, issuers and securities. We believe that inefficiencies in these complex markets cause bond prices to diverge from their fair value. To capitalize on these inefficiencies and generate consistent risk-adjusted performance, we believe it is critical to:<ul type="square"><li>Thoughtfully combine diversified sources of return by employing multiple strategies</li><li>Take a global perspective to uncover relative value opportunities</li><li>Employ focused specialist teams to identify short-term mis-pricings and incorporate long-term views</li><li>Emphasize a risk-aware approach as we view risk management as both an offensive and defensive tool</li><li>Build a strong team of skilled investors who excel on behalf of our clients</li></ul> A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase. The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The Fund's "Management Fees" have been restated to reflect current fees.<br/><br/>The "Other Expenses" for Class R6 Shares have been restated the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year. July 28, 2018 1.89 A contingent deferred sales charge (&#8220;CDSC&#8221;) of 1% is imposed on Class C Shares redeemed within 12 months of purchase. The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Class C, Institutional, Investor, Class R, Class R6 and Class T Shares compare to those of a broad-based securities market index. Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. www.gsamfunds.com/performance <b>Principal Risks of the Fund </b> The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.<br /><br /><b>Call/Prepayment Risk. </b> &nbsp;An issuer could exercise its right to pay principal on an obligation held by the Fund (such as a Mortgage-Backed Security) earlier than expected. This may happen when there is a decline in interest rates, when credit spreads change, or when an issuer&#8217;s credit quality improves. Under these circumstances, the Fund may be unable to recoup all of its initial investment and will also suffer from having to reinvest in lower-yielding securities.<br /><br /><b>Derivatives Risk.</b> &nbsp;The Fund&#8217;s use of options, futures, swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the Securities and Exchange Commission (&#8220;SEC&#8221;) proposed new regulations relating to a mutual fund&#8217;s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact a Fund&#8217;s ability to invest in derivatives and other instruments and adversely affect such Fund&#8217;s performance and ability to pursue its investment objectives.<br /><br /><b>Interest Rate Risk.</b> &nbsp;When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund&#8217;s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.<br /><br /><b>Large Shareholder Transactions Risk.</b> &nbsp;The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund&#8217;s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund&#8217;s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund&#8217;s current expenses being allocated over a smaller asset base, leading to an increase in the Fund&#8217;s expense ratio.<br /><br /><b>Mortgage-Backed and/or Other Asset-Backed Securities Risk.</b> &nbsp;Mortgage-related and other asset-backed securities are subject to certain additional risks, including &#8220;extension risk&#8221; (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and &#8220;prepayment risk&#8221; (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Other asset-backed securities are subject to risks similar to those associated with mortgage-backed securities, as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.<br /><br /><b>U.S. Government Securities Risk.</b> &nbsp;The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by those agencies, instrumentalities and government sponsored enterprises, including those issued by the Federal National Mortgage Association (&#8220;Fannie Mae&#8221;), Federal Home Loan Mortgage Corporation (&#8220;Freddie Mac&#8221;) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including any legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. the &#8220;Other Expenses&#8221; for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year. The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. As of the date of the Prospectus, Class T Shares have not commenced operations. total return 2017-06-30 0.0062 July 28, 2018 Best Quarter AVERAGE ANNUAL TOTAL RETURN<br/><br/><b>For the period ended December 31, 2016</b> 2008-03-31 0.0599 Worst Quarter 2013-06-30 -0.0691 The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#146;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 49 and &#8220;Shareholder Guide-Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 53 and in Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts on page 90 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). 100000 250000 <b>Principal Risks of the Fund </b> Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.<br /><br /><b>Call/Prepayment Risk.</b> &nbsp;An issuer could exercise its right to pay principal on an obligation held by the Fund (such as a Mortgage-Backed Security) earlier than expected. This may happen when there is a decline in interest rates, when credit spreads change, or when an issuer&#8217;s credit quality improves. Under these circumstances, the Fund may be unable to recoup all of its initial investment and will also suffer from having to reinvest in lower-yielding securities.<br /><br /><b>Counterparty Risk.</b> &nbsp;Many of the protections afforded to cleared transactions, such as the security afforded by transacting through a clearing house, might not be available in connection with over the counter (&#8220;OTC&#8221;) transactions. Therefore, in those instances in which the Fund enters into OTC transactions, the Fund will be subject to the risk that its direct counterparty will not perform its obligations under the transactions and that the Fund will sustain losses.<br /><br /><b>Credit/Default Risk.</b> &nbsp;An issuer or guarantor of fixed income securities or instruments held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund&#8217;s liquidity and cause significant deterioration in net asset value (&#8220;NAV&#8221;). These risks are more pronounced in connection with the Fund&#8217;s investments in non-investment grade fixed income securities.<br /><br /><b>Derivatives Risk.</b> &nbsp;The Fund&#8217;s use of options, futures, forwards, swaps, options on swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk which is the risk that the other party in the transaction will not fulfill its contractual obligation. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the Securities and Exchange Commission (&#8220;SEC&#8221;) proposed new regulations relating to a mutual fund&#8217;s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact a Fund&#8217;s ability to invest in derivatives and other instruments and adversely affect such Fund&#8217;s performance and ability to pursue its investment objectives.<br /><br /><b>Expenses Risk.</b> &nbsp;By investing in pooled investment vehicles (including investment companies, exchange-traded funds and money market funds) indirectly through the Fund, the investor will incur not only a proportionate share of the expenses of the other pooled investment vehicles held by the Fund (including operating costs and investment management fees), but also expenses of the Fund.<br /><br /><b>Extension Risk.</b> &nbsp;An issuer could exercise its right to pay principal on an obligation held by the Fund (such as a Mortgage-Backed Security) later than expected. This may happen when there is a rise in interest rates. Under these circumstances, the value of the obligation will decrease, and the Fund will also suffer from the inability to invest in higher-yielding securities.<br /><br /><b>Floating and Variable Rate Obligations Risk.</b> &nbsp;For floating and variable rate obligations, there may be a lag between an actual change in the underlying interest rate benchmark and the reset time for an interest payment of such an obligation, which could harm or benefit the Fund, depending on the interest rate environment or other circumstances. In a rising interest rate environment, for example, a floating or variable rate obligation that does not reset immediately would prevent the Fund from taking full advantage of rising interest rates in a timely manner. However, in a declining interest rate environment, the Fund may benefit from a lag due to an obligation&#8217;s interest rate payment not being immediately impacted by a decline in interest rates.<br /><br />Certain floating and variable rate obligations have an interest rate floor feature, which prevents the interest rate payable by the security from dropping below a specified level as compared to a reference interest rate (the &#8220;reference rate&#8221;), such as LIBOR. Such a floor protects the Fund from losses resulting from a decrease in the reference rate below the specified level. However, if the reference rate is below the floor, there will be a lag between a rise in the reference rate and a rise in the interest rate payable by the obligation, and the Fund may not benefit from increasing interest rates for a significant amount of time.<br /><br /><b>Foreign and Emerging Countries Risk.</b> &nbsp;Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls, sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. These risks may be more pronounced in connection with the Fund&#8217;s investments in securities of issuers located in emerging countries. In addition, the Fund will be subject to the risk that an issuer of non-U.S. sovereign debt or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay the principal interest when due.<br /><br /><b>Interest Rate Risk.</b> &nbsp;When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund&#8217;s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.<br /><br /><b>Large Shareholder Transactions Risk.</b> &nbsp;The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund&#8217;s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund&#8217;s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund&#8217;s current expenses being allocated over a smaller asset base, leading to an increase in the Fund&#8217;s expense ratio.<br /><br /><b>Loan-Related Investments Risk.</b> &nbsp;In addition to the risks generally associated with debt investments, loan-related investments such as loan participations and assignments are subject to other risks. Although a loan obligation may be fully collateralized at the time of acquisition, the collateral may decline in value, be relatively illiquid, or lose all or substantially all of its value subsequent to investment. Many loan investments are subject to legal or contractual restrictions on resale and may be relatively illiquid and difficult to value. There is less readily available, reliable information about most loan investments than is the case for many other types of securities. Substantial increases in interest rates may cause an increase in loan obligation defaults. With respect to loan participations, the Fund may not always have direct recourse against a borrower if the borrower fails to pay scheduled principal and/or interest; may be subject to greater delays, expenses and risks than if the Fund had purchased a direct obligation of the borrower; and may be regarded as the creditor of the agent lender (rather than the borrower), subjecting the Fund to the creditworthiness of that lender as well. Investors in loans, such as the Fund, may not be entitled to rely on the anti-fraud protections of the federal securities laws, although they may be entitled to certain contractual remedies. The market for loan obligations may be subject to irregular trading activity, wide bid/ask spreads and extended trade settlement periods. Because transactions in many loans are subject to extended trade settlement periods, a Fund may not receive the proceeds from the sale of a loan for a period after the sale. As a result, sale proceeds related to the sale of loans may not be available to make additional investments or to meet a Fund&#8217;s redemption obligations for a period after the sale of the loans, and, as a result, the Fund may have to sell other investments or engage in borrowing transactions, such as borrowing from its credit facility, if necessary to raise cash to meet its obligations.<br /><br />Senior loans hold the most senior position in the capital structure of a business entity, and are typically secured with specific collateral, but are nevertheless usually rated below investment grade. Because second lien loans are subordinated or unsecured and thus lower in priority of payment to senior loans, they are subject to the additional risk that the cash flow of the borrower and property securing the loan or debt, if any, may be insufficient to meet scheduled payments after giving effect to the senior secured obligations of the borrower. Second lien loans generally have greater price volatility than senior loans and may be less liquid.<br /><br /><b>Mortgage-Backed and Other Asset-Backed Securities Risk.</b> &nbsp;Mortgage-related and other asset-backed securities are subject to certain additional risks, including &#8220;extension risk&#8221; (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and &#8220;prepayment risk&#8221; (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Mortgage-Backed Securities offered by non-governmental issuers are subject to other risks as well, including failures of private insurers to meet their obligations and unexpectedly high rates of default on the mortgages backing the securities. Other asset-backed securities are subject to risks similar to those associated with Mortgage-Backed Securities, as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.<br /><br /><b>Municipal Securities Risk.</b> &nbsp;Municipal Securities are subject to call/prepayment risk, credit/default risk, extension risk, interest rate risk and certain additional risks. The Fund may be more sensitive to adverse economic, business or political developments if it invests a substantial portion of its assets in the bonds of similar projects (such as those relating to education, health care, housing, transportation, and utilities), industrial development bonds, or in particular types of municipal securities (such as general obligation bonds, private activity bonds and moral obligation bonds). Generally, municipalities continue to experience difficulties in the current economic and political environment.<br /><br /><b>Non-Investment Grade Fixed Income Securities Risk.</b> &nbsp;Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as &#8220;junk bonds&#8221;) are considered speculative and are subject to the increased risk of an issuer&#8217;s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity.<br /><br /><b>U.S. Government Securities Risk.</b> &nbsp;The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by those agencies, instrumentalities and government sponsored enterprises, including those issued by the Federal National Mortgage Association (&#8220;Fannie Mae&#8221;), Federal Home Loan Mortgage Corporation (&#8220;Freddie Mac&#8221;) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including any legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future. <b>Performance </b> The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Class C, Institutional, Service, Investor, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.<br /><br />The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown. 0.0375 0 0 0 0 0 0.025 0 0.01 0 0 0 0 0 <b>TOTAL RETURN CALENDAR YEAR (CLASS A)</b> The total return for Class A Shares for the six-month period ended <br/>June 30, 2017 was 0.53%.<br/><br/>Best Quarter<br/> Q4 &#8216;08 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;+3.37%<br/><br/>Worst Quarter<br/> Q4 &#8216;15 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8211;0.70% AVERAGE ANNUAL TOTAL RETURN<br/><br/><b>For the period ended December 31, 2016</b> The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000177 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualTotalReturnsBarChart000176 column period compact * ~</div> Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. <b>Non-Diversification Risk.</b> &nbsp;The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified mutual funds. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments. The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Class C, Institutional, Service, Investor, Class R6 and Class T Shares compare to those of a broad-based securities market index. As of the date of the Prospectus, Class T Shares have not commenced operations. www.gsamfunds.com/performance The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. the &#8220;Other Expenses&#8221; for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year. <b>Performance </b> The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) the changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average total returns of the Fund&#8217;s Class A, Class C, Institutional, Investor, Class R, Class R6 and Class T Shares compare to those of certain broad-based securities market indices and to the Goldman Sachs Short Duration Income Fund Composite Index, a custom benchmark comprised of the Bloomberg Barclays U.S. 1-5 Year Corporate Bond Index (50%) and the Bloomberg Barclays U.S. 1-5 Year Government Bond Index (50%). The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.<br /><br />The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to Class Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown. <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleTransposed000174 column period compact * ~</div> <b>TOTAL RETURN CALENDAR YEAR (CLASS A)</b> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000175 column period compact * ~</div> The total return for Class A Shares for the six month <br/>period ended June 30, 2017 was 1.44%.<br/><br/>Best Quarter<br/> Q1&#8217;16 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.03%<br/><br/>Worst Quarter<br/> Q2 &#8216;13 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8211;1.08% 0.0225 0 0 0 0 0.025 0.015 0 0 0 0 0 0.025 0 0.01 0 0 0 0 0 0.0065 0 0 0 0 0 <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleShareholderFees000132 column period compact * ~</div> 0.0026 0.0026 0.0026 0.0026 0.0026 0.0026 0.0026 0.0025 0.0075 0 0 0.005 0 0.0025 <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualFundOperatingExpenses000133 column period compact * ~</div> 0.0026 0.0052 0.0017 0.0026 0.0026 0.0015 0.0026 0 0.0025 0 0 0 0 0 0.0026 0.0026 0.0027 0.0017 0.0026 0.0026 0.0015 AVERAGE ANNUAL TOTAL RETURN <br/><br/><b>For the period ended December 31, 2016</b> 0.0077 0.0153 0.0043 0.0052 0.0102 0.0041 0.0077 -0.0009 -0.001 -0.0009 -0.0009 -0.0009 -0.0008 -0.0009 0.0068 0.0143 0.0034 0.0043 0.0093 0.0033 0.0068 <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleTransposed000134 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000135 column period compact * ~</div> 0 0.015 0 0 0 0 0.025 <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualTotalReturnsBarChart000136 column period compact * ~</div> 0 0.0065 0 0 0 0 0 <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000137 column period compact * ~</div> <b>Shareholder Fees</b><br/><b>(fees paid directly from your investment)</b> <b>Annual Fund Operating Expenses</b><br/><b>(expenses that you pay each year as a percentage of the value of your investment)</b> 0.0055 0.0055 0.0055 0.0055 0.0055 0.0055 0.0025 0.0075 0 0 0.005 0.0025 0.0017 0.0042 0.0008 0.0017 0.0017 0.0017 0 0.0025 0 0 0 0 0.0017 0.0017 0.0008 0.0017 0.0017 0.0017 0.0002 0.0002 0.0002 0.0002 0.0002 0.0002 0.0099 0.0174 0.0065 0.0074 0.0124 0.0099 -0.0002 -0.0002 -0.0002 -0.0002 -0.0002 -0.0002 0.0097 0.0172 0.0063 0.0072 0.0122 0.0097 0.004 0.004 0.004 0.004 0.004 0.004 0.004 0.0075 0 0.0025 0 0.005 0 0.0025 0.0025 0.005 0.0016 0.0025 0.0025 0.0015 0.0025 0 0.0025 0 0 0 0 0 0.0025 0.0025 0.0016 0.0025 0.0025 0.0015 0.0025 0.009 0.0165 0.0056 0.0065 0.0115 0.0055 0.009 -0.0011 -0.0046 -0.0011 -0.0011 -0.0011 -0.001 -0.0011 0.0079 0.0119 0.0045 0.0054 0.0104 0.0045 0.0079 275 64 322 74 124 346 531 546 206 235 391 555 758 942 360 410 679 782 1409 2050 809 917 1431 1498 175 546 942 2050 Assuming complete redemption at end of period Assuming no redemption 453 257 97 55 329 45 106 46 229 186 46 55 106 46 329 528 172 363 206 335 177 518 649 519 166 354 197 168 422 475 743 310 640 369 320 904 862 592 726 297 622 302 351 854 630 1362 712 1430 736 1473 1985 844 1327 680 1388 800 1320 691 1916 1231 0.0043 0.0043 0.0043 0.0043 0.0043 0.0043 0.0043 0.0678 0.0427 0.0087 -0.0097 0.0792 total return 2017-06-30 0.0149 0.0025 0.0075 0 0.0025 0 0 0.0025 Best Quarter 2012-03-31 0.0018 0.0043 0.0009 0.0034 0.0018 0.0008 0.0018 0.0266 Worst Quarter 0 0.0025 0 0 0 0 0 2015-12-31 121 475 -0.0177 0 0 0 0.0025 0 0 0 854 442 246 35 44 95 34 318 1916 0.0018 0.0018 0.0009 0.0009 0.0018 0.0008 0.0018 603 474 129 158 316 124 481 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 778 825 232 282 555 659 222 1285 1815 533 644 1240 510 1172 0.0087 0.0162 0.0053 0.0103 0.0062 0.0052 0.0087 -0.0006 -0.0041 -0.0006 -0.0006 -0.0006 -0.0006 -0.0006 0.0081 0.0121 0.0047 0.0097 0.0056 0.0046 0.0081 0.0145 0.0305 0.0545 0.0365 0.0597 0.0828 0.0807 0.0754 0.0523 0.1079 0.0036 0.0028 0.0209 0.0326 0.017 0.0181 0.0297 0.041 0.04 0.0347 0.032 0.0532 0.0275 0.0126 0.0146 0.0239 0.0352 0.0343 0.029 0.027 0.0436 146 2011-03-31 2011-03-31 2011-03-31 2011-03-31 2011-03-31 2011-03-31 2011-03-31 2017-07-28 474 825 1815 157 518 904 1985 -0.0137 0.1036 0.0657 0.0594 -0.0462 0.1322 0.1379 0.0668 -0.0877 0.0281 0.0557 -0.0213 0.0757 0.0446 <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000067 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualTotalReturnsBarChart000066 column period compact * ~</div> 0.0928 -0.0041 0.0544 0.0031 <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000065 column period compact * ~</div> 0.0249 <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleTransposed000064 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualFundOperatingExpenses000063 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleShareholderFees000062 column period compact * ~</div> 0.015 0 0 0 0 0.025 231 188 48 99 57 47 331 417 471 164 322 192 161 515 619 290 843 563 714 285 340 1201 1887 1254 659 769 647 1290 0.0058 -0.0019 0.0032 0.0286 0.0101 0.0194 0.0103 0.0101 0.0286 0.0194 0.0254 0.0286 0.0101 0.0194 0.0235 0.0286 0.0101 0.0194 0.0286 0.0194 0.0286 0.0194 0.0101 -0.0046 0.0101 0.0185 0.0241 0.0055 0.001 0.0032 0.0467 0.0264 0.0484 0.0467 0.0467 0.0471 0.0467 0.0418 0.0467 0.0476 0.0467 0.0055 0.0467 -0.003 -0.0102 -0.005 0.0089 -0.0026 0.0089 0.0083 0.0089 0.0089 0.007 0.0022 0.0089 0.0081 0.0089 -0.003 0.0089 0.0334 0.0213 0.0217 0.0414 0.0304 0.0414 0.0416 0.0414 0.0346 0.0353 0.0297 0.0353 0.0415 0.0414 0.0334 0.0414 2007-08-31 2007-08-31 2007-08-31 2007-08-31 2007-08-31 2007-08-31 2007-08-31 2007-08-31 2007-11-30 2007-11-30 2007-11-30 2007-11-30 2015-07-31 2017-07-28 2017-07-28 2015-07-31 -0.0131 -0.0236 -0.0074 0.0071 0.0264 0.0293 0.0264 0.0233 0.0284 0.0264 0.0264 0.0264 0.0243 0.0264 0.0223 0.0223 0.0363 0.0223 0.0323 0.026 0.0258 0.0143 0.0119 0.0223 0.0374 0.0223 0.0223 0.0311 2012-02-29 2012-02-29 2012-02-29 2012-02-29 2012-02-29 2012-02-29 2012-02-29 2012-02-29 2012-02-29 2012-02-29 2012-02-29 2012-02-29 2012-02-29 2012-02-29 2012-02-29 2012-02-29 2012-02-29 2012-02-29 2012-02-29 2012-02-29 2012-02-29 2012-02-29 2017-07-28 2017-07-28 2017-07-28 2017-07-28 2015-07-31 July 28, 2018 <b>Goldman Sachs Government Income Fund&#8212;Summary </b> 123 0.55 471 843 0.0025 0.0025 0.0025 0.0025 0.0025 0.0025 <b>Investment Objective </b> 1887 The Goldman Sachs Government Income Fund (the &#8220;Fund&#8221;) seeks a high level of current income, consistent with safety of principal. 0.0025 0 0 0 0 0.0025 A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase. <b>Fees and Expenses of the Fund </b> 0.0369 0.0407 0.0252 0.0257 0.0434 0.0434 0.0434 0.0484 0.002 0.0011 0.0036 0.002 0.001 0.002 This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 59 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 63 and in &#8220;Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts&#8221; on page 106 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). 0 0 0.0025 0 0 0 0.0405 0.0405 0.045 0.0424 0.0424 0.04 0.0245 0.025 0.0424 0.0361 0.0475 0.045 0.0448 0.0399 0.002 0.0011 0.0011 0.002 0.001 0.002 <b>Expense Example </b> 2007-11-30 2007-11-30 2007-06-20 2006-11-30 2006-11-30 2006-11-30 2006-11-30 2006-11-30 2006-11-30 2006-11-30 2006-11-30 2007-06-20 2007-11-30 2007-11-30 This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.<br /><br />The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be: 2017-07-28 2017-07-28 2015-07-31 2015-07-31 0.007 0.0036 0.0061 0.0045 0.0035 0.007 0.0424 0.04 0.0424 0.0475 0.0178 0.0158 0.0081 0.0236 0.0089 0.0158 0.0081 0.0236 0.0119 0.0158 0.0081 0.0236 0.0169 0.0158 0.0081 0.0181 0.0236 0.0158 0.0081 0.0236 0.0102 0.0158 0.0081 0.0236 0.0056 0.0045 0.0111 0.0434 0.0407 0.0434 0.0484 -0.0001 -0.0001 -0.0001 -0.0001 -0.0001 -0.0001 0.0223 0.0258 0.0223 0.0373 <b>Portfolio Turnover </b> 0.0069 0.0035 0.006 0.0044 0.0034 0.0069 0.0264 -0.0131 0.0264 0.0294 The Fund pays transaction costs when it buys and sells securities or instruments (i.e., &#8220;turns over&#8221; its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund&#8217;s performance. The Fund&#8217;s portfolio turnover rate for the fiscal year ended March 31, 2017 was 441% of the average value of its portfolio. <b>Principal Strategy </b> 0.066 0.0798 0.0382 0.0197 0.0069 0.0076 -0.001 0.0008 -0.0014 0.0108 219 36 61 45 35 319 370 115 194 143 111 467 533 201 339 251 196 629 1007 455 761 566 442 1098 0.0406 0.011 -0.0041 -0.01 -0.0023 0.0066 0.0005 0.0066 0.0142 0.0066 0.0092 0.0066 0.0133 0.0066 0.0144 0.0066 -0.0144 0.0066 0.0447 The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (&#8220;Net Assets&#8221;) in securities issued or guaranteed by the U.S. Government, its agencies, instrumentalities or sponsored enterprises (&#8220;U.S. Government Securities&#8221;) and in repurchase agreements collateralized by such securities. The remainder of the Fund&#8217;s Net Assets may be invested in non-government securities such as privately issued adjustable rate and fixed rate mortgage loans or other mortgage-related securities (&#8220;Mortgage-Backed Securities&#8221;), asset-backed securities and corporate securities. The Fund also intends to invest in derivatives, including (but not limited to) futures, swaps, options on swaps and other derivative instruments, which are used primarily to hedge the Fund&#8217;s portfolio risks, manage the Fund&#8217;s duration and/or gain exposure to certain fixed income securities. 100% of the Fund&#8217;s portfolio will be invested in U.S. dollar-denominated securities.<br /><br />The Fund&#8217;s investments in non-U.S. Government Securities must be rated AAA or Aaa by a nationally recognized statistical rating organization (&#8220;NRSRO&#8221;) at the time of purchase, or, if unrated, must be determined by the Investment Adviser to be of comparable credit quality. The Fund&#8217;s target duration range under normal interest rate conditions is expected to approximate that of the Bloomberg Barclays U.S. Government/Mortgage Index, plus or minus one year, and over the past five years ended June 30, 2017, the duration of this index has ranged between 3.94 and 5.34 years. &#8220;Duration&#8221; is a measure of a debt security&#8217;s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security&#8217;s market price.<br /><br />The Fund&#8217;s benchmark index is the Bloomberg Barclays U.S. Government/Mortgage Index.<br /><br />GSAM&#8217;s Fixed Income Investing Philosophy:<br /><br />Global fixed income markets are constantly evolving and are highly diverse&#8212;with a large number of countries, currencies, sectors, issuers and securities. We believe that inefficiencies in these complex markets cause bond prices to diverge from their fair value. To capitalize on these inefficiencies and generate consistent risk-adjusted performance, we believe it is critical to:<ul type="square"><li>Thoughtfully combine diversified sources of return by employing multiple strategies</li><li>Take a global perspective to uncover relative value opportunities</li><li>Employ focused specialist teams to identify short-term mis-pricings and incorporate long-term views</li><li>Emphasize a risk-aware approach as we view risk management as both an offensive and defensive tool</li><li>Build a strong team of skilled investors who excel on behalf of our clients</li></ul> 0.0002 -0.0034 -0.0014 0.0048 -0.0003 0.0048 0.0067 0.0048 0.0019 0.0048 0.0059 0.0048 0.0068 0.0048 -0.0017 0.0048 <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleShareholderFees000182 column period compact * ~</div> 0.0043 0.0208 0.0142 0.0139 0.0218 0.0173 0.0259 0.0218 0.0218 0.0209 0.0218 0.026 0.0218 0.0218 0.017 -0.0073 0.0129 0.0328 0.0207 0.0206 0.0332 0.0263 0.0324 0.0476 0.0447 0.0338 0.0346 0.0205 0.0161 0.0476 0.0447 0.0249 0.0332 0.0025 -0.0037 -0.002 1997-05-01 1997-05-01 1997-05-01 1997-05-01 1997-08-15 1997-08-15 1988-08-15 1988-08-15 1996-04-10 1996-04-10 2007-11-30 2007-11-30 2015-07-31 2015-07-31 2017-07-28 2017-07-28 0.0125 <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualFundOperatingExpenses000183 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleTransposed000184 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000185 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualTotalReturnsBarChart000186 column period compact * ~</div> <b>Principal Risks of the Fund </b> Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.<br /><br /><b>Call/Prepayment Risk.</b>&nbsp;&nbsp;An issuer could exercise its right to pay principal on an obligation held by the Fund (such as a Mortgage-Backed Security) earlier than expected. This may happen when there is a decline in interest rates, when credit spreads change, or when an issuer&#8217;s credit quality improves. Under these circumstances, the Fund may be unable to recoup all of its initial investment and will also suffer from having to reinvest in lower-yielding securities.<br /><br /><b>Credit/Default Risk.</b>&nbsp;&nbsp;An issuer or guarantor of fixed income securities or instruments held by the Fund may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund&#8217;s liquidity and cause significant deterioration in net asset value (&#8220;NAV&#8221;).<br /><br /><b>Derivatives Risk.</b>&nbsp;&nbsp;The Fund&#8217;s use of futures, swaps, options on swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the Securities and Exchange Commission (&#8220;SEC&#8221;) proposed new regulations relating to a mutual fund&#8217;s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact a Fund&#8217;s ability to invest in derivatives and other instruments and adversely affect such Fund&#8217;s performance and ability to pursue its investment objectives.<br /><br /><b>Interest Rate Risk.</b>&nbsp;&nbsp;When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund&#8217;s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.<br /><br /><b>Large Shareholder Transactions Risk.</b>&nbsp;&nbsp;The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund&#8217;s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund&#8217;s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund&#8217;s current expenses being allocated over a smaller asset base, leading to an increase in the Fund&#8217;s expense ratio.<br /><br /><b>Mortgage-Backed and/or Other Asset-Backed Securities Risk.</b>&nbsp;&nbsp;Mortgage-related and other asset-backed securities are subject to certain additional risks, including &#8220;extension risk&#8221; (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and &#8220;prepayment risk&#8221; (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Mortgage-Backed Securities offered by non-governmental issuers are subject to other risks as well, including failures of private insurers to meet their obligations and unexpectedly high rates of default on the mortgages backing the securities. Other asset-backed securities are subject to risks similar to those associated with Mortgage-Backed Securities, as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.<br /><br /><b>U.S. Government Securities Risk.</b>&nbsp;&nbsp;The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by those agencies, instrumentalities and government sponsored enterprises, including those issued by the Federal National Mortgage Association (&#8220;Fannie Mae&#8221;), Federal Home Loan Mortgage Corporation (&#8220;Freddie Mac&#8221;) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including any legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future. <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000187 column period compact * ~</div> -0.0023 -0.0054 -0.0013 0.0067 0.0075 0.0071 0.0159 0.0067 0.0075 0.0071 0.0134 0.0067 0.0075 0.0071 0.014 0.0067 0.0075 0.0071 0.015 0.0067 0.0075 0.0071 -0.0127 0.0067 0.0075 0.0071 2.89 Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases. 0.0015 -0.0004 0.0003 0.0027 0.0032 0.0029 0.0078 0.0027 0.0032 0.0029 0.0053 0.0027 0.0032 0.0029 0.0067 0.0027 0.0032 0.0029 0.0078 0.0027 0.0032 0.0029 -0.0006 0.0027 0.0032 0.0029 0.0099 0.0046 0.0057 0.0116 0.0143 0.0129 0.015 0.0116 0.0143 0.0129 0.0128 0.0116 0.0143 0.0129 0.015 0.0116 0.0143 0.0129 0.0089 0.0116 0.0143 0.0129 0.019 0.0104 0.0114 0.0196 0.0219 0.0211 0.0236 0.0196 0.0219 0.0211 0.0212 0.0196 0.0219 0.0211 0.005 0.0028 0.0037 0.0032 0.0236 0.0196 0.0219 0.0211 0.0184 0.0196 0.0219 0.0211 2000-08-02 2000-08-02 2000-08-02 2000-08-02 2000-08-02 2000-08-02 2000-08-02 2000-08-02 2000-08-02 2000-08-02 2000-08-02 2000-08-02 2000-08-02 2000-08-02 2010-07-30 2010-07-30 2010-07-30 2010-07-30 2015-07-31 2015-07-31 2015-07-31 2015-07-31 2017-07-28 2017-07-28 2017-07-28 2017-07-28 <b>Performance </b> The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.<br /><br />The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown. <b>TOTAL RETURN CALENDAR YEAR (CLASS A)</b> The total return for Class A Shares for the six-month<br/> period ended June 30, 2017 was 1.39%.<br/><br/>Best Quarter<br/> Q4 &#8216;08 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;+4.00%<br/><br/>Worst Quarter<br/> Q4 &#8216;16 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8211;2.86% AVERAGE ANNUAL TOTAL RETURN<br/><br/><b>For the period ended December 31, 2016</b> You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#147;Shareholder Guide&#151;Common Questions Applicable to the Purchase of Class A Shares&#148; beginning on page 71 and &#147;Shareholder Guide&#151;Common Questions Applicable to the Purchase of Class T Shares&#148; beginning on page 75 and in Appendix C&#151;Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and &#147;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#148; beginning on page B-122 of the Fund&#146;s Statement of Additional Information (&#147;SAI&#148;). The &#147;Other Expenses&#148; for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year. The &#147;Total Annual Fund Operating Expenses&#148; do not correlate to the ratios of net and total expenses to average net assets provided in the Financial Highlights, which reflect the operating expenses of the Fund and do not include &#147;Acquired Fund Fees and Expenses.&#148; 0.0286 0.0101 0.0194 0.0158 0.0081 0.0236 2015-07-31 2015-07-31 2015-07-31 Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation ("FDIC") or any government agency. July 28, 2018 0.93 A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 71 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 75 and in Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). 100000 250000 The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#146;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#146;s Class A, Class C, Institutional, Investor, Class R and Class T Shares compare to those of a broad-based securities market index. the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year. Assuming complete redemption at end of period Assuming no redemption The "Total Annual Fund Operating Expenses" do not correlate to the ratios of net and total expenses to average net assets provided in the Financial Highlights, which reflect the operating expenses of the Fund and do not include "Acquired Fund Fees and Expenses." As of the date of the Prospectus, Class T Shares have not commenced operations. Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. www.gsamfunds.com/performance The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and Class T Shares compare to those of a broad-based securities market index. Assuming complete redemption at end of period Assuming no redemption The Fund's past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. As of the date of the Prospectus, Class T Shares have not commenced operations. www.gsamfunds.com/performance The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. total return 2017-06-30 0.0386 Best Quarter 2009-06-30 0.184 Worst Quarter 2008-12-31 Performance has been adjusted to reflect the higher maximum sales charge (load) imposed on purchases of Class T Shares. Class A Shares had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class A Shares impose a lower maximum sales charge (load) on purchases. -0.1879 Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. <b>Shareholder Fees<br/>(fees paid directly from your investment):</b> <b>Annual Fund Operating Expenses<br/>(expenses that you pay each year as a percentage of the value of your investment):</b> Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases. The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#146;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. A contingent deferred sales charge (&#8220;CDSC&#8221;) of 1% is imposed on Class C Shares redeemed within 12 months of purchase. July 28, 2018 1.73 The Fund&#8217;s &#8220;Management Fees&#8221; have been restated to reflect current fees. <br/><br/>The &#8220;Other Expenses&#8221; for Class R6 Shares have been restated You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $500,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 59 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 63 and in &#8220;Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts&#8221; on page 106 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). the &#8220;Other Expenses&#8221; for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year. 500000 250000 <sup></sup>The &#8220;Total Annual Fund Operating Expenses&#8221; do not correlate to the ratios of net and total expenses to average net assets provided in the Financial Highlights, which reflect the operating expenses of the Fund and do not include &#8220;Acquired Fund Fees and Expenses.&#8221; A contingent deferred sales charge ("CDSC") of 0.65% is imposed on Class C Shares redeemed within 12 months of purchase. <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleShareholderFees000052 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualFundOperatingExpenses000053 column period compact * ~</div> The bar chart (including &#147;Best Quarter&#148; and &#147;Worst Quarter&#148; information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleTransposed000054 column period compact * ~</div> Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation ("FDIC") or any government agency. <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000055 column period compact * ~</div> The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Class C, Institutional, Service, Investor, Class R6 and Class T Shares compare to those of a broad-based securities market index. As of the date of the Prospectus, Class T Shares have not commenced operations. www.gsamfunds.com/performance The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualTotalReturnsBarChart000056 column period compact * ~</div> The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year. <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000057 column period compact * ~</div> The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. As of the date of the Prospectus, Class T Shares have not commenced operations. Performance has been adjusted to reflect the higher maximum sales charge (load) imposed on purchases of Class T Shares. Class A Shares had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class A Shares impose a lower maximum sales charge (load) on purchases. total return 2017-06-30 0.0053 Best Quarter 2008-12-31 Worst Quarter 2015-12-31 0.89 -0.007 0.0337 July 28, 2018 You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $500,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 59 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 63 and in &#8220;Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts&#8221; on page 106 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). 500000 250000 <b>Shareholder Fees<br/>(fees paid directly from your investment)</b> the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year. 5.17 <b>Shareholder Fees<br/>(fees paid directly from your investment)</b> July 28, 2018 Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation ("FDIC") or any government agency. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 49 and &#8220;Shareholder Guide-Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 53 and in Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts on page 90 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund's Class A Shares from year to year; and (b) how the average annual total returns of the Fund's Class A, Institutional, Administration, Investor, Class R6 and Class T Shares compare to those of certain broad-based securities market indices and to the Goldman Sachs Enhanced Income Fund Composite Index, a custom benchmark comprised of the Bank of America Merrill Lynch Six-Month U.S. Treasury Bill Index (50%) and the Bank of America Merrill Lynch One-Year U.S. Treasury Note Index (50%). As of the date of the Prospectus, Class T Shares have not commenced operations. Loss of money is a risk of investing in the Fund. www.gsamfunds.com/performance <b>Annual Fund Operating Expenses<br/>(expenses that you pay each year as a percentage of the value of your investment) </b> The Fund's past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. <b>Annual Fund Operating Expenses<br/>(expenses that you pay each year as a percentage of the value of your investment) </b> An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. The bar chart (including "Best Quarter" and "Worst Quarter" information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and Class T Shares compare to those of a broad-based securities market index. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. www.gsamfunds.com/performance The after-tax returns are for Class A Shares only. The after-tax returns for Institutional, Administration, Investor and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Performance has been adjusted to reflect the higher maximum sales charge (load) imposed on purchases of Class T Shares. Class A Shares had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class A Shares impose a lower maximum sales charge (load) on purchases. total return The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. 2017-06-30 0.0052 Best Quarter 2009-06-30 0.0192 Worst Quarter 2008-09-30 After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. -0.0068 Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. 100000 250000 250000 100000 Assuming complete redemption at end of period Assuming no redemption July 28, 2018 You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $500,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 59 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 63 and in &#8220;Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts&#8221; on page 106 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). 1.65 500000 250000 0.0419 Assuming complete redemption at end of period Assuming no redemption A contingent deferred sales charge (&#8220;CDSC&#8221;) of 0.65% is imposed on Class C Shares redeemed within 12 months of purchase. the &#8220;Other Expenses&#8221; for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year. total return 2017-06-30 0.0249 Best Quarter 2009-09-30 0.0588 Worst Quarter Loss of money is a risk of investing in the Fund. 2008-09-30 -0.0349 An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. Effective October 1, 2016, the Credit Suisse Leveraged Loan Index replaced the Bloomberg Barclays U.S. High Yield Loans Index as the Fund&#146;s benchmark because the Bloomberg Barclays U.S. High Yield Loans Index was discontinued. <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleShareholderFees000152 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000077 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualFundOperatingExpenses000153 column period compact * ~</div> The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) the changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average total returns of the Fund&#8217;s Class A, Class C, Institutional, Investor, Class R, Class R6 and Class T Shares compare to those of certain broad-based securities market indices and to the Goldman Sachs Short Duration Income Fund Composite Index, a custom benchmark comprised of the Bloomberg Barclays U.S. 1-5 Year Corporate Bond Index (50%) and the Bloomberg Barclays U.S. 1-5 Year Government Bond Index (50%). <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualTotalReturnsBarChart000076 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleTransposed000154 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualTotalReturnsBarChart000156 column period compact * ~</div> As of the date of the Prospectus, Class T Shares have not commenced operations. <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleTransposed000074 column period compact * ~</div> www.gsamfunds.com/performance <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000157 column period compact * ~</div> The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000075 column period compact * ~</div> The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to Class Shares. If the sales loads were reflected, returns would be less. <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualFundOperatingExpenses000073 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleShareholderFees000072 column period compact * ~</div> After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. total return 2017-06-30 0.0144 Best Quarter 2016-03-31 0.0103 Worst Quarter 2013-06-30 -0.0108 You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 59 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 63 and in &#8220;Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts&#8221; on page 106 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). 100000 250000 A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase. The Fund's "Management Fees" have been restated to reflect current fees.<br/><br/>The "Other Expenses" for Class R6 Shares have been restated the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year. July 28, 2018 4.41 Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. www.gsamfunds.com/performance The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. As of the date of the Prospectus, Class T Shares have not commenced operations. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases. The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. total return 2017-06-30 0.0139 Best Quarter 2008-12-31 0.04 Worst Quarter 2016-12-31 -0.0286 <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000117 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualTotalReturnsBarChart000116 column period compact * ~</div> The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000115 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleTransposed000114 column period compact * ~</div> Performance has been adjusted to reflect the higher maximum sales charge (load) imposed on purchases of Class T Shares. Class A Shares had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class A Shares impose a lower maximum sales charge (load) on purchases. <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleShareholderFees000112 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualFundOperatingExpenses000113 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleShareholderFees000202 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualFundOperatingExpenses000203 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleTransposed000204 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000205 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualTotalReturnsBarChart000206 column period compact * ~</div> <b>Shareholder Fees<br/>(fees paid directly from your investment) </b> <b>Annual Fund Operating Expenses<br/>(expenses that you pay each year as a percentage of the value of your investment)</b> 0.0369 <b>Shareholder Fees<br/>(fees paid directly from your investment):</b> <b>Annual Fund Operating Expenses<br/>(expenses that you pay each year as a percentage of the value of your investment):</b> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000207 column period compact * ~</div> <b>Shareholder Fees<br/>(fees paid directly from your investment):</b> <b>Annual Fund Operating Expenses<br/>(expenses that you pay each year as a percentage of the value of your investment): </b> 0.069 0.0499 0.0461 0.0482 0.0648 0.0252 -0.025 0.041 0.003 0.0105 0.0375 0 0 0 0 0 0 0.025 0 0.01 0 0 0 0 0 0 0.0053 0.0053 0.0053 0.0053 0.0053 0.0053 0.0053 0.0053 0.0025 0.0075 0 0.0025 0 0.005 0 0.0025 0.0027 0.0052 0.0018 0.0043 0.0027 0.0027 0.0016 0.0027 0 0.0025 0 0 0 0 0 0 0 0 0 0.0025 0 0 0 0 0.0027 0.0027 0.0018 0.0018 0.0027 0.0027 0.0016 0.0027 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0106 0.0181 0.0072 0.0122 0.0081 0.0131 0.007 0.0106 -0.0014 -0.0014 -0.0014 -0.0014 -0.0014 -0.0014 -0.0014 -0.0014 0.0092 0.0167 0.0058 0.0108 0.0067 0.0117 0.0056 0.0092 <b>Goldman Sachs Strategic Macro Fund&#8212;Summary </b> The Goldman Sachs Strategic Macro Fund (formerly Goldman Sachs Fixed Income Macro Strategies Fund) (the &#8220;Fund&#8221;) seeks to generate long-term absolute return. This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 45 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 48 and in Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts on page 84 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.<br /><br />The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Investor, Class R and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Investor, Class R and/or Class T Shares at the end of those periods, unless otherwise stated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same (except that the Example incorporates the fee waivers and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be: The Fund pays transaction costs when it buys and sells securities or instruments (i.e., &#8220;turns over&#8221; its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund&#8217;s performance. The Fund&#8217;s portfolio turnover rate for the fiscal year ended March 31, 2017 was 376% of the average value of its portfolio. The Investment Adviser seeks to achieve its investment objective through the implementation of relative value, macro, long/short and other strategies that aim to exploit disparities or inefficiencies in the global fixed income, currency and commodities markets. The Fund may also employ a macro hedge at the portfolio level to remove unintended market directional risks, which may enable the Fund to pursue returns in a variety of market cycles. Absolute return performance may be uncorrelated to fixed income and equity markets over the long-term.<br /><br />The Fund invests primarily in fixed income investments, including but not limited to: U.S. and foreign investment grade and non-investment grade fixed income investments, securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises (&#8220;U.S. Government Securities&#8221;), agency securities, agency mortgage-backed securities, as well as pooled investment vehicles, derivatives and other instruments that provide exposure to such investments. The Fund may invest in fixed income securities of any maturity. The Fund may invest in unregistered securities, including, for example, restricted securities eligible for resale pursuant to an exemption from registration under the Securities Act of 1933, as amended (&#8220;Securities Act&#8221;).<br /><br />The Fund generally intends to invest in the following securities using a long/short approach: U.S. dollar denominated non-U.S. sovereign debt, corporate debt securities, quasi-sovereign securities, non-agency mortgage-backed securities, asset-backed securities, municipal securities, loans and loan participations and convertible securities, preferred stock, as well as pooled investment vehicles, derivatives and other instruments that provide exposure to such investments. The Fund&#8217;s investments in loans and loan participations may include, but are not limited to: (a) senior secured floating rate and fixed rate loans or debt (&#8220;Senior Loans&#8221;), (b) second lien or other subordinated or unsecured floating rate and fixed rate loans or debt (&#8220;Second Lien Loans&#8221;) and (c) other types of secured or unsecured loans with fixed, floating or variable interest rates. A long/short approach is a strategy that seeks to produce returns with risk and volatility that are uncorrelated with general global market risk and volatility by simultaneously taking long and short exposures in approximately equal amounts.<br /><br />Non-investment grade fixed income securities (commonly known as &#8220;junk bonds&#8221;) are securities rated BB+, Ba1 or below by a nationally recognized statistical rating organization (&#8220;NRSRO&#8221;), or, if unrated, determined by the Investment Adviser to be of comparable credit quality.<br /><br />The Fund may invest in sovereign debt securities and other instruments of issuers in emerging market countries. Such investments may include sovereign debt issued by emerging countries that have sovereign ratings below investment grade or that are unrated. There is no limitation to the amount the Fund invests in non-investment grade or emerging market securities. The Fund&#8217;s investments may be denominated in currencies other than the U.S. dollar.<br /><br />The Fund may engage in forward foreign currency transactions for both investment and hedging purposes. The Fund also intends to invest in other derivative instruments. Derivatives are instruments that have a value based on another instrument, exchange rate, interest rate or index. The Fund&#8217;s investments in derivatives may include, in addition to forward foreign currency exchange contracts, futures contracts (including interest rate futures and Treasury and sovereign bond futures), options (including options on futures contracts, swaps, bonds, stocks and indexes), swaps (including credit default, mortgage, index, basis, total return, inflation, inflation asset, volatility, correlation, variance and currency swaps), and other forward contracts. The Fund may use derivatives instead of buying and selling bonds to manage duration, or to gain long or short exposure to individual securities, a credit or asset backed index or equity markets.<br /><br />The Fund may implement short positions and may do so by using swaps or futures, or through short sales of any instrument that the Fund may purchase for investment. For example, the Fund may enter into a futures contract pursuant to which it agrees to sell an asset (that it does not currently own) at a specified price at a specified point in the future. This gives the Fund a short position with respect to that asset. The Fund will benefit to the extent the asset decreases in value (and will experience losses to the extent the asset increases in value) between the time it enters into the futures contract and the agreed date of sale. Alternatively, the Fund may sell an instrument (e.g., a bond, or a futures contract) it does not own in anticipation of a decline in the market value of the instrument, and then borrow the instrument to make delivery to the buyer. In these transactions, the Fund is obligated to replace the instrument borrowed by purchasing it at the market price at the time of replacement.<br /><br />Additionally, the Fund uses short positions and derivatives for both hedging and non-hedging purposes.<br /><br />The Fund may sell investments that the portfolio managers believe are no longer favorable with regard to these factors.<br /><br /><b>Investment in Cayman Subsidiary.</b> The Fund intends to gain exposure to the commodities markets by investing in a wholly-owned subsidiary of the Fund organized as a company under the laws of the Cayman Islands (the &#8220;Subsidiary&#8221;). The Subsidiary is advised by the Investment Adviser and seeks to gain commodities exposure.<br /><br />The Fund may invest up to 25% of its total assets in the Subsidiary. The Subsidiary primarily obtains its commodity exposure by investing in commodity index-linked derivative instruments (which may include total return swaps and commodities futures). Commodity-linked swaps are derivative instruments whereby the cash flows agreed upon between counterparties are dependent upon the price of the underlying commodity or commodity index over the life of the swap. Commodity futures contracts are standardized exchange-traded contracts that provide for the sale, or purchase of, or economic exposure to the price of, a commodity or a specified basket of commodities at a future time. The value of these commodity-linked derivatives will rise and fall in response to changes in the underlying commodity or commodity index. Commodity-linked derivatives expose the Subsidiary and the Fund economically to movements in commodity prices. Such instruments may be leveraged so that small changes in the underlying commodity prices would result in disproportionate changes in the value of the instruments. Neither the Fund nor the Subsidiary invests directly in commodities. The Subsidiary will also invest in other instruments, including fixed income securities, either as investments or to serve as margin or collateral for its swap positions.<br /><br /><b>Exposure to Commodities.</b> The Fund primarily gains exposure to commodities by investing in the Subsidiary, and it may also gain exposure to commodities by investing in commodity index-linked structured notes, publicly traded partnerships (&#8220;PTPs&#8221;), exchange-traded funds (&#8220;ETFs&#8221;), affiliated or unaffiliated investment companies and commodities futures. PTPs are limited partnerships, the interests (or &#8220;units&#8221;) in which are traded on public exchanges, just like ETFs. The Fund may invest in PTPs that are commodity pools.<br /><br />The Fund&#8217;s benchmark index is the Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index. References in the Prospectus to the Fund&#8217;s benchmark are for informational purposes only and are not an indication of how the Fund is managed.<br /><br />THE FUND IS NON-DIVERSIFIED UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED (THE &#8220;INVESTMENT COMPANY ACT&#8221;), AND MAY INVEST A LARGER PERCENTAGE OF ITS ASSETS IN FEWER ISSUERS THAN DIVERSIFIED MUTUAL FUNDS. <b>Fees and Expenses of the Fund </b> <b>Principal Risks of the Fund </b> <b>Loss of money is a risk of investing in the Fund. The investment program of the Fund is speculative, entails substantial risks and includes alternative investment techniques not employed by traditional mutual funds. The Fund should not be relied upon as a complete investment program. The Fund&#8217;s investment techniques (if they do not perform as designed) may increase the volatility of performance and the risk of investment loss, including the loss of the entire amount that is invested, and there can be no assurance that the investment objective of the Fund will be achieved. Moreover, certain investment techniques which the Fund may employ in its investment program can substantially increase the adverse impact to which the Fund&#8217;s investments may be subject. There is no assurance that the investment processes of the Fund will be successful, that the techniques utilized therein will be implemented successfully or that they are adequate for their intended uses, or that the discretionary element of the investment processes of the Fund will be exercised in a manner that is successful or that is not adverse to the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. Investors should carefully consider these risks before investing.</b><br /><br />In addition, the Fund&#8217;s net asset value (&#8220;NAV&#8221;) may fluctuate substantially over time. Because the Fund attempts to exploit disparities or inefficiencies in the global fixed income, currency and commodities markets, the Fund&#8217;s performance may potentially be lower than the returns of the broader stock market. Accordingly, the Fund should be considered a speculative investment entailing a high degree of risk and is not suitable for all investors.<br /><br /><b>Commodity Sector Risk.</b> &nbsp;Exposure to the commodities markets may subject the Fund to greater volatility than investments in more traditional securities. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. The prices of energy, industrial metals, precious metals, agriculture and livestock sector commodities may fluctuate widely due to factors such as changes in value, supply and demand and governmental regulatory policies. The commodity-linked investments in which the Fund may enter into may involve companies in the financial services sector, and events affecting the financial services sector may cause the Fund's share value to fluctuate.<br /><br /><b>Counterparty Risk.</b> &nbsp;Many of the protections afforded to cleared transactions, such as the security afforded by transacting through clearing house, might not be available in connection with over the counter (&#8220;OTC&#8221;) transactions. Therefore, in those instances in which the Fund enters into OTC transactions, the Fund will be subject to the risk that its direct counterparty will not perform its obligations under the transactions and that the Fund will sustain losses.<br /><br /><b>Credit/Default Risk.</b> &nbsp;An issuer or guarantor of fixed income securities held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund&#8217;s liquidity and cause significant NAV deterioration. These risks are more pronounced in connection with the Fund&#8217;s investments in non-investment grade fixed income securities.<br /><br /><b>Derivatives Risk.</b> &nbsp;The Fund's use of forward foreign currency exchange contracts, futures contracts (including interest rate futures and treasury and sovereign bond futures), options (including options on futures contracts, swaps, bonds, stocks and indexes), swaps (including credit default, mortgage, index, basis, total return, volatility and currency swaps), and other forward contracts and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid, or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligations. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the Securities and Exchange Commission ("SEC") proposed new regulations relating to a mutual fund's use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact a Fund's ability to invest in derivatives and other instruments and adversely affect such Fund's performance and ability to pursue its investment objectives.<br /><br /><b>Floating and Variable Rate Obligations Risk.</b> &nbsp;For floating and variable rate obligations, there may be a lag between an actual change in the underlying interest rate benchmark and the reset time for an interest payment of such an obligation, which could harm or benefit the Fund, depending on the interest rate environment or other circumstances. In a rising interest rate environment, for example, a floating or variable rate obligation that does not reset immediately would prevent the Fund from taking full advantage of rising interest rates in a timely manner. However, in a declining interest rate environment, the Fund may benefit from a lag due to an obligation&#8217;s interest rate payment not being immediately impacted by a decline in interest rates.<br /><br />Certain floating and variable rate obligations have an interest rate floor feature, which prevents the interest rate payable by the security from dropping below a specified level as compared to a reference interest rate (the &#8220;reference rate&#8221;), such as LIBOR. Such a floor protects the Fund from losses resulting from a decrease in the reference rate below the specified level. However, if the reference rate is below the floor, there will be a lag between a rise in the reference rate and a rise in the interest rate payable by the obligation, and the Fund may not benefit from increasing interest rates for a significant amount of time.<br /><br /><b>Foreign and Emerging Countries Risk.</b> &nbsp;Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls (including repatriation restrictions), sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. These risks may be more pronounced in connection with the Fund's investments in securities of issuers located in emerging countries.<br /><br /><b>Interest Rate Risk.</b> &nbsp;When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund's investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.<br /><br /><b>Large Shareholder Transactions Risk.</b> &nbsp;The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund&#8217;s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund&#8217;s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund&#8217;s current expenses being allocated over a smaller asset base, leading to an increase in the Fund&#8217;s expense ratio.<br /><br /><b>Leverage Risk.</b> &nbsp;Borrowing and the use of derivatives may result in leverage and may make the Fund more volatile. The use of leverage may cause the Fund to liquidate portfolio positions to satisfy its obligations or to meet asset segregation requirements when it may not be advantageous to do so. The use of leverage by the Fund can substantially increase the adverse impact to which the Fund&#8217;s investment portfolio may be subject.<br /><br /><b>Liquidity Risk.</b> &nbsp;The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests, or other reasons. To meet redemption requests, the Fund may be forced to sell securities at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.<br /><br /><b>Loan-Related Investments Risk.</b> &nbsp;In addition to risks generally associated with debt investments, loan-related investments such as loan participations and assignments are subject to other risks. Although a loan obligation may be fully collateralized at the time of acquisition, the collateral may decline in value, be relatively illiquid, or lose all or substantially all of its value subsequent to investment. Many loan investments are subject to legal or contractual restrictions on resale and may be relatively illiquid and difficult to value. There is less readily available, reliable information about most loan investments than is the case for many other types of securities. Substantial increases in interest rates may cause an increase in loan obligation defaults. With respect to loan participations, the Fund may not always have direct recourse against a borrower if the borrower fails to pay scheduled principal and/or interest; may be subject to greater delays, expenses and risks than if the Fund had purchased a direct obligation of the borrower; and may be regarded as the creditor of the agent lender (rather than the borrower), subjecting the Fund to the creditworthiness of that lender as well. Investors in loans, such as the Fund, may not be entitled to rely on the anti-fraud protections of the federal securities laws, although they may be entitled to certain contractual remedies. The market for loan obligations may be subject to irregular trading activity, wide bid/ask spreads and extended trade settlement periods. Because transactions in many loans are subject to extended trade settlement periods, the Fund may not receive the proceeds from the sale of a loan for a period after the sale. As a result, sale proceeds related to the sale of loans may not be available to make additional investments or to meet the Fund&#8217;s redemption obligations for a period after the sale of the loans, and, as a result, the Fund may have to sell other investments or engage in borrowing transactions, such as borrowing from its credit facility, if necessary to raise cash to meet its obligations.<br /><br />Senior Loans hold the most senior position in the capital structure of a business entity, and are typically secured with specific collateral, but are nevertheless usually rated below investment grade. Because Second Lien Loans are subordinated or unsecured and thus lower in priority of payment to Senior Loans, they are subject to the additional risk that the cash flow of the borrower and property securing the loan or debt, if any, may be insufficient to meet scheduled payments after giving effect to the senior secured obligations of the borrower. Second Lien Loans generally have greater price volatility than Senior Loans and may be less liquid.<br /><br /><b>Management Risk.</b> &nbsp;A strategy used by the Investment Adviser may fail to produce the intended results.<br /><br /><b>Market Risk.</b> &nbsp;The value of the securities in which the Fund invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/ or general economic conditions throughout the world due to increasingly interconnected global economies and financial markets.<br /><br /><b>Mortgage-Backed and Other Asset-Backed Securities Risk.</b> &nbsp;Mortgage-related and other asset-backed securities are subject to certain additional risks, including &#8220;extension risk&#8221; (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and &#8220;prepayment risk&#8221; (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Mortgage-backed securities offered by non-governmental issuers are subject to other risks as well, including failures of private insurers to meet their obligations and unexpectedly high rates of default on the mortgages backing the securities. Other asset-backed securities are subject to risks similar to those associated with mortgage-backed securities, as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.<br /><br /><b>Non-Diversification Risk.</b> &nbsp;The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified mutual funds. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.<br /><br /><b>Non-Hedging Foreign Currency Trading Risk</b>. &nbsp;The Fund may engage in forward foreign currency transactions for both hedging and non-hedging purposes. The Investment Adviser may purchase or sell foreign currencies through the use of forward contracts based on the Investment Adviser&#8217;s judgment regarding the direction of the market for a particular foreign currency or currencies. In pursuing this strategy, the Investment Adviser seeks to profit from anticipated movements in currency rates by establishing &#8220;long&#8221; and/or &#8220;short&#8221; positions in forward contracts on various foreign currencies. Foreign exchange rates can be extremely volatile and a variance in the degree of volatility of the market or in the direction of the market from the Investment Advisers&#8217; expectations may produce significant losses to the Fund. Some of the transactions may also be subject to interest rate risk.<br /><br /><b>Non-Investment Grade Fixed Income Securities Risk.</b> &nbsp;Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as &#8220;junk bonds&#8221;) are considered speculative and are subject to the increased risk of an issuer&#8217;s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity.<br /><br /><b>Portfolio Turnover Rate Risk.</b> &nbsp;A high rate of portfolio turnover involves correspondingly greater expenses which must be borne by the Fund and its shareholders, and is also likely to result in short-term capital gains taxable to shareholders.<br /><br /><b>Short Position Risk.</b> &nbsp;The Fund may enter into a short position through a futures contract, an option or swap agreement or through short sales of any instrument that the Fund may purchase for investment. Taking short positions involves leverage of the Fund&#8217;s assets and presents various risks. If the value of the underlying instrument or market in which the Fund has taken a short position increases, then the Fund will incur a loss equal to the increase in value from the time that the short position was entered into plus any related interest payments or other fees. Taking short positions involves the risk that losses may be disproportionate, may exceed the amount invested, and may be unlimited.<br /><br /><b>Sovereign Default Risk.</b> &nbsp;An issuer of sovereign debt or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay the principal or interest when due. This may result from political or social factors, the general economic environment of a country or levels of foreign debt or foreign currency exchange rates.<br /><br /><b>Subsidiary Risk.</b> &nbsp;The Subsidiary is not registered under the Investment Company Act of 1940, as amended ("Investment Company Act") and is not subject to all the investor protections of the Investment Company Act. Changes in the laws of the United States and/or the Cayman Islands could result in the inability of the Fund and/or the Subsidiary to operate as described in the Prospectus and the SAI and could adversely affect the Fund.<br /><br /><b>Tax Risk.</b> &nbsp;In reliance on an opinion of counsel, the Fund seeks to gain exposure to the commodity markets primarily through investments in the Subsidiary. The Internal Revenue Service ("IRS") recently issued proposed regulations that, if finalized, would generally treat the Fund's income inclusion with respect to a subsidiary as qualifying income only if there is a distribution out of the earnings and profits of a subsidiary that are attributable to such income inclusion. The proposed regulations, if adopted, would apply to taxable years beginning on or after 90 days after the regulations are published as final.<br/><br/>The tax treatment of the Fund's investments in the Subsidiary could affect whether income derived from such investments is "qualifying income" under Subchapter M of the Internal Revenue Code of 1986, as amended (the "Code"), or otherwise affect the character, timing and/or amount of the Fund's taxable income or any gains and distributions made by the Fund. If the IRS were to successfully assert that a Fund's income from such investments was not "qualifying income," the Fund may fail to qualify as a regulated investment company ("RIC") under Subchapter M of the Code if over 10% of its gross income was derived from these investments. If the Fund failed to qualify as a RIC, it would be subject to federal and state income tax on all of its taxable income at regular corporate tax rates with no deduction for any distributions paid to shareholders, which would significantly adversely affect the returns to, and could cause substantial losses for, Fund shareholders.<br /><br />Shareholders should review "Distributions" in the "Taxation" section of the Prospectus for more information.<br /><br /><b>U.S. Government Securities Risk.</b> &nbsp;The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by those agencies, instrumentalities and government sponsored enterprises, including those issued by the Federal National Mortgage Association (&#8220;Fannie Mae&#8221;), Federal Home Loan Mortgage Corporation (&#8220;Freddie Mac&#8221;) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including any legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future. <b>Goldman Sachs Long Short Credit Strategies Fund&#8212;Summary </b> The Goldman Sachs Long Short Credit Strategies Fund (the &#8220;Fund&#8221;) seeks an absolute return comprised of income and capital appreciation. <b>Fees and Expenses of the Fund </b> This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 45 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 48 and in Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts on page 84 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). <b>Performance </b> The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Class C, Institutional, Investor, Class R and Class T Shares compare to those of a broad-based securities market index. The Fund&#8217;s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown. 465 270 59 110 68 119 57 342 <b>TOTAL RETURN CALENDAR YEAR (CLASS A)</b> 686 556 216 373 245 401 210 565 This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.<br /><br />The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Investor, Class R and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Investor, Class R and/or Class T Shares at the end of those periods, unless otherwise stated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be: 925 967 387 657 436 705 376 807 1608 2115 881 1465 989 1567 857 1499 The total return for Class A Shares for the six month period ended <br/>June 30, 2017 was 0.80%.<br/><br/>Best Quarter<br/> Q3 &#8217;16 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;+2.45%<br/><br/>Worst Quarter<br/> Q4 &#8216;14 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8211;5.42%<br /> The Fund pays transaction costs when it buys and sells securities or instruments (i.e., &#8220;turns over&#8221; its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund&#8217;s performance. The Fund&#8217;s portfolio turnover rate for the fiscal year ended March 31, 2017 was 266% of the average value of its portfolio. The Fund will seek to achieve its investment objective through long and short exposures to &#8220;credit related instruments.&#8221; Under normal market conditions, the Fund will invest at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (&#8220;Net Assets&#8221;) in the following credit related instruments: (i) fixed rate and floating rate income securities; (ii) loans and loan participations including: (a) senior secured floating rate and fixed rate loans or debt (&#8220;Senior Loans&#8221;), (b) second lien or other subordinated or unsecured floating rate and fixed rate loans or debt (&#8220;Second Lien Loans&#8221;) and (c) other types of secured or unsecured loans with fixed, floating, or variable interest rates; (iii) convertible securities; (iv) collateralized debt, bond and loan obligations; (v) bank and corporate debt obligations; (vi) securities issued or guaranteed by the U.S. government or its agencies, instrumentalities or sponsored enterprises (&#8220;U.S. Government Securities&#8221;), and securities issued by or on behalf of states, territories, and possessions of the United States (including the District of Columbia); (vii) preferred securities and trust preferred securities; (viii) structured securities, including credit-linked notes; and/or (ix) listed and unlisted, public and private, rated and unrated debt instruments and other obligations, including those of financially troubled companies (sometimes known as &#8220;distressed securities&#8221; or &#8220;defaulted securities&#8221;).<br /><br />The Fund may invest in instruments and obligations directly, or indirectly by investing in derivative or synthetic instruments, including, without limitation, credit default swaps (including credit default swaps on credit related indices) and loan credit default swaps. The Fund will opportunistically seek short exposures to credit related instruments through the use of such derivatives or synthetic instruments, including, but not limited to, credit default swaps (including credit default swaps on credit related indices).<br /><br />The Fund intends to implement short positions for hedging purposes or to seek to enhance absolute return, and may do so by using swaps or futures, or through short sales of any instrument that the Fund may purchase for investment. For example, the Fund may buy credit default swaps. Credit default swaps involve the receipt of floating or fixed rate payments in exchange for assuming potential credit losses on an underlying security (or group of securities). When the Fund is the buyer of a credit default swap (buying protection), it may make periodic payments to the seller of the credit default swap to obtain protection against a credit default on a specified underlying asset (or group of assets). If a default occurs, the seller of a credit default swap may be required to pay the Fund the notional amount of the credit default swap on a specified security (or group of securities). On the other hand, when the Fund is a seller of a credit default swap (commonly known as selling protection), in addition to the credit exposure the Fund has on the other assets held in its portfolio, the Fund is also subject to the credit exposure on the notional amount of the swap since, in the event of a credit default, the Fund may be required to pay the notional amount of the credit default swap on a specified security (or group of securities) to the buyer of the credit swap. The Fund will be the seller of a credit default swap only when the credit of the underlying asset is deemed by the Investment Adviser to meet the Fund&#8217;s minimum credit criteria at the time the swap is first entered into.<br /><br />The Fund may invest in U.S. dollar denominated as well as non-U.S. dollar denominated (foreign) securities. The Fund may also hold cash, and/or invest in cash equivalents.<br /><br />There is no minimum credit rating for instruments in which the Fund may invest, and the Fund may invest without limitation in securities below investment grade. Non-investment grade fixed income securities (commonly known as &#8220;junk bonds&#8221;) are rated BB+, Ba1 or below by a nationally recognized statistical rating organization (&#8220;NRSRO&#8221;), or, if unrated, determined by the Investment Adviser to be of comparable credit quality. The Fund may also invest in credit instruments of any maturity or duration.<br /><br />When making investments, the Investment Adviser seeks to identify securities that are both fundamentally mispriced and have a potential catalyst for value creation. Within this universe, the Investment Adviser seeks perceived risk-adjusted return opportunities with a focus on:<ul type="square"><li>Asymmetric return profile (i.e., upside versus downside potential);</li><li>Relative value analysis and impact on the current portfolio;</li><li>Technical dynamics in the market (i.e., understanding the price movements in the market relative to supply and demand); and</li><li>Overall risk/return potential.</li></ul>The Fund employs a sell discipline aimed at minimizing losses. Although the portfolio management team considers many factors when implementing trades, there are three primary reasons why the Fund would exit an investment or trade:<ul type="square"><li>Position Target Achieved&#8212;Position targets are established at the time of investment and monitored on both an absolute and relative value basis. An asset is typically sold as it approaches the target, unless changes in circumstances dictate a revised target.</li><li>Credit Profile Change/Credit Event&#8212;The loss of (or change to) a catalyst or change in fundamentals which no longer support the initial investment decision will cause the team to exit a position.</li><li>Portfolio Re-Allocation&#8212;Each position is monitored on a relative value basis versus other holdings and market opportunities. Positions are sold or reduced to maintain proper portfolio diversification.</li></ul>The Fund seeks an absolute return comprised of income and capital appreciation. Absolute return performance may be uncorrelated to fixed income and equity markets over the long-term. The Fund&#8217;s investment strategies are intended to reduce volatility (i.e., the Fund may be less impacted by market fluctuations in rising and falling market conditions).<br /><br />The Fund&#8217;s benchmark index is the Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index.<br /><br />THE FUND IS NON-DIVERSIFIED UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED (&#8220;INVESTMENT COMPANY ACT&#8221;), AND MAY INVEST A LARGER PERCENTAGE OF ITS ASSETS IN FEWER ISSUERS THAN DIVERSIFIED MUTUAL FUNDS. 170 556 967 2115 The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. AVERAGE ANNUAL TOTAL RETURN<br/><br/><b>For the period ended December 31, 2016</b> <b>Principal Risks of the Fund </b> <b>Loss of money is a risk of investing in the Fund. The investment program of the Fund is speculative, entails substantial risks and includes alternative investment techniques not employed by traditional mutual funds. The Fund should not be relied upon as a complete investment program. The Fund&#8217;s investment techniques (if they do not perform as designed) may increase the volatility of performance and the risk of investment loss, including the loss of the entire amount that is invested, and there can be no assurance that the investment objective of the Fund will be achieved. Moreover, certain investment techniques which the Fund may employ in its investment program can substantially increase the adverse impact to which the Fund&#8217;s investments may be subject. There is no assurance that the investment processes of the Fund will be successful, that the techniques utilized therein will be implemented successfully or that they are adequate for their intended uses, or that the discretionary element of the investment processes of the Fund will be exercised in a manner that is successful or that is not adverse to the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency. Investors should carefully consider these risks before investing. </b><br /><br /><b>Call/Prepayment Risk. </b> &nbsp;An issuer could exercise its right to pay principal on an obligation held by the Fund (such as a mortgage-backed security) earlier than expected. This may happen when there is a decline in interest rates, when credit spreads change, or when an issuer&#8217;s credit quality improves. Under these circumstances, the Fund may be unable to recoup all of its initial investment and will also suffer from having to reinvest in lower-yielding securities.<br /><br /><b>Counterparty Risk. </b> &nbsp;Many of the protections afforded to cleared transactions, such as the security offered by transacting through a clearing house, might not be available in connection with over the counter (&#8220;OTC&#8221;) transactions. Therefore, in those instances in which the Fund enters into OTC transactions, the Fund will be subject to the risk that its direct counterparty will not perform its obligations under the transactions and that the Fund will sustain losses.<br /><br /><b>Credit/Default Risk. </b> &nbsp;An issuer or guarantor of fixed income securities or instruments held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund&#8217;s liquidity and cause significant deterioration in net asset value (&#8220;NAV&#8221;). These risks are more pronounced in connection with the Fund&#8217;s investments in non-investment grade fixed income securities.<br /><br /><b>Derivatives Risk.</b> &nbsp;The Fund&#8217;s use of futures, swaps, structured securities (e.g., credit linked notes) and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid, or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligations. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the Securities and Exchange Commission (&#8220;SEC&#8221;) proposed new regulations relating to a mutual fund&#8217;s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund&#8217;s ability to invest in derivatives and other instruments and adversely affect the Fund&#8217;s performance and ability to pursue its investment objectives.<br /><br /><b>Floating and Variable Rate Obligations Risk.</b> &nbsp;For floating and variable rate obligations, there may be a lag between an actual change in the underlying interest rate benchmark and the reset time for an interest payment of such an obligation, which could harm or benefit the Fund, depending on the interest rate environment or other circumstances. In a rising interest rate environment, for example, a floating or variable rate obligation that does not reset immediately would prevent the Fund from taking full advantage of rising interest rates in a timely manner. However, in a declining interest rate environment, the Fund may benefit from a lag due to an obligation&#8217;s interest rate payment not being immediately impacted by a decline in interest rates.<br /><br />Certain floating and variable rate obligations have an interest rate floor feature, which prevents the interest rate payable by the security from dropping below a specified level as compared to a reference interest rate (the &#8220;reference rate&#8221;), such as LIBOR. Such a floor protects the Fund from losses resulting from a decrease in the reference rate below the specified level. However, if the reference rate is below the floor, there will be a lag between a rise in the reference rate and a rise in the interest rate payable by the obligation, and the Fund may not benefit from increasing interest rates for a significant amount of time.<br /><br /><b>Foreign Risk.</b> &nbsp;Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls (including repatriation restrictions), sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time.<br /><br /><b>Interest Rate Risk. </b> &nbsp;When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund&#8217;s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.<br /><br /><b>Large Shareholder Transactions Risk.</b> &nbsp;The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund&#8217;s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund&#8217;s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund&#8217;s current expenses being allocated over a smaller asset base, leading to an increase in the Fund&#8217;s expense ratio.<br /><br /><b>Leverage Risk.</b> &nbsp;Borrowing and the use of derivatives may result in leverage and may make the Fund more volatile. The use of leverage may cause the Fund to liquidate portfolio positions to satisfy its obligations or to meet asset segregation requirements when it may not be advantageous to do so. The use of leverage by the Fund can substantially increase the adverse impact to which the Fund&#8217;s investment portfolio may be subject.<br /><br /><b>Liquidity Risk.</b> &nbsp;The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests, or other reasons. To meet redemption requests, the Fund may be forced to sell securities at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.<br /><br /><b>Loan-Related Investments Risk.</b> &nbsp;In addition to risks generally associated with debt investments, loan-related investments such as loan participations and assignments are subject to other risks. Although a loan obligation may be fully collateralized at the time of acquisition, the collateral may decline in value, be relatively illiquid, or lose all or substantially all of its value subsequent to investment. Many loan investments are subject to legal or contractual restrictions on resale and may be relatively illiquid and difficult to value. There is less readily available, reliable information about most loan investments than is the case for many other types of securities. Substantial increases in interest rates may cause an increase in loan obligation defaults. With respect to loan participations, the Fund may not always have direct recourse against a borrower if the borrower fails to pay scheduled principal and/or interest; may be subject to greater delays, expenses and risks than if the Fund had purchased a direct obligation of the borrower; and may be regarded as the creditor of the agent lender (rather than the borrower), subjecting the Fund to the creditworthiness of that lender as well. Investors in loans, such as the Fund, may not be entitled to rely on the anti-fraud protections of the federal securities laws, although they may be entitled to certain contractual remedies. The market for loan obligations may be subject to irregular trading activity, wide bid/ask spreads and extended trade settlement periods. Because transactions in many loans are subject to extended trade settlement periods, the Fund may not receive the proceeds from the sale of a loan for a period after the sale. As a result, sale proceeds related to the sale of loans may not be available to make additional investments or to meet the Fund&#8217;s redemption obligations for a period after the sale of the loans, and, as a result, the Fund may have to sell other investments or engage in borrowing transactions, such as borrowing from its credit facility, if necessary to raise cash to meet its obligations.<br /><br />Senior Loans hold the most senior position in the capital structure of a business entity, and are typically secured with specific collateral, but are nevertheless usually rated below investment grade. Because Second Lien Loans are subordinated or unsecured and thus lower in priority of payment to Senior Loans, they are subject to the additional risk that the cash flow of the borrower and property securing the loan or debt, if any, may be insufficient to meet scheduled payments after giving effect to the senior secured obligations of the borrower. Second Lien Loans generally have greater price volatility than Senior Loans and may be less liquid.<br /><br /><b>Management Risk.</b> &nbsp;A strategy used by the Investment Adviser may fail to produce the intended results.<br /><br /><b>Market Risk.</b> &nbsp;The value of the securities in which the Fund invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/or general economic conditions throughout the world due to increasingly interconnected global economies and financial markets.<br /><br /><b>Non-Diversification Risk.</b> &nbsp;The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified mutual funds. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.<br /><br /><b>Non-Investment Grade Fixed Income Securities Risk. </b> &nbsp;Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as &#8220;junk bonds&#8221;) are considered speculative and are subject to the increased risk of an issuer&#8217;s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity.<br /><br /><b>Portfolio Turnover Rate Risk. </b> &nbsp;A high rate of portfolio turnover involves correspondingly greater expenses which must be borne by the Fund and its shareholders, and is also likely to result in short-term capital gains taxable to shareholders.<br /><br /><b>Short Position Risk.</b> &nbsp;The Fund may enter into a short position through a futures contract, an option or swap agreement or through short sales of any instrument that the Fund may purchase for investment. Taking short positions involves leverage of the Fund&#8217;s assets and presents various risks. If the value of the underlying instrument or market in which the Fund has taken a short position increases, then the Fund will incur a loss equal to the increase in value from the time that the short position was entered into plus any related interest payments or other fees. Taking short positions involves the risk that losses may be disproportionate, may exceed the amount invested, and, with respect to certain instruments (e.g., equities, swap options) may be unlimited.<br /><br /><b>Special Situation Investments Risk.</b> &nbsp;The Fund may make investments in event-driven situations such as recapitalizations, financings, corporate and financial restructurings, acquisitions, divestitures, reorganizations or other situations in public or private companies that may provide the Fund with an opportunity to provide debt and/or equity financing, typically on a negotiated basis. The Investment Adviser will seek special situation investment opportunities with limited downside risk relative to their potential upside. These investments are complicated and an incorrect assessment of the downside risk associated with an investment could result in significant losses to the Fund.<br /><br /><b>Swaps Risk.</b> &nbsp;In a standard &#8220;swap&#8221; transaction, two parties agree to exchange the returns, differentials in rates of return or some other amount earned or realized on the &#8220;notional amount&#8221; of predetermined investments or instruments, which may be adjusted for an interest factor. Swaps can involve greater risks than direct investment in securities, because swaps may be leveraged and are subject to counterparty risk (e.g., the risk of a counterparty&#8217;s defaulting on the obligation or bankruptcy), credit risk and pricing risk (i.e., swaps may be difficult to value). Swaps may also be considered illiquid. It may not be possible for the Fund to liquidate a swap position at an advantageous time or price, which may result in significant losses.<br /><br /><b>U.S. Government Securities Risk.</b> &nbsp;The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by those agencies, instrumentalities and government sponsored enterprises, including those issued by the Federal National Mortgage Association (&#8220;Fannie Mae&#8221;), Federal Home Loan Mortgage Corporation (&#8220;Freddie Mac&#8221;) and the Federal Home Loan Banks, are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including any legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future. -0.0271 -0.034 -0.0152 0.013 -0.007 0.013 0.0139 0.013 0.0088 0.013 0.013 0.013 0.008 0.013 0.0141 0.013 -0.0271 0.013 0.003 -0.0048 -0.0005 0.0157 0.0033 0.0157 0.0141 0.0089 0.0157 0.0157 0.008 0.0157 0.0131 0.0157 0.014 0.0157 0.003 0.0157 0.0289 0.0175 0.0184 0.0404 0.0252 0.0404 0.0364 0.0404 0.0312 0.0404 0.0363 0.0404 0.0404 0.0289 0.0465 0.0288 0.0289 0.0525 0.0358 0.0496 0.0473 0.042 0.0496 0.0496 0.0315 0.0363 0.0266 0.0363 0.0473 0.0496 0.0465 0.0525 1993-02-10 1993-02-10 1993-02-10 1993-02-10 1997-08-15 1997-08-15 1997-08-15 1997-08-15 1997-08-15 1997-08-15 2007-11-30 2007-11-30 2007-11-30 2007-11-30 2015-07-31 2015-07-31 2017-07-28 2017-07-28 <b>Performance </b> The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Institutional Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Class C, Institutional, Investor, Class R and Class T Shares compare to those of a broad-based securities market index. Effective at the close of business on March 21, 2014, the Goldman Sachs Credit Strategies Fund (the &#8220;Predecessor Fund&#8221;), a closed-end management investment company that was operated as an &#8220;interval fund,&#8221; was reorganized into the Fund, with shareholders of the Predecessor Fund receiving Institutional Shares of the Fund upon consummation of the reorganization. Because the Predecessor Fund is the accounting survivor, the Fund has assumed the Predecessor Fund&#8217;s historical performance. Therefore, the Fund&#8217;s performance information for the period prior to March 24, 2014 shown below is that of the Predecessor Fund and performance information prior to this date reflects the Predecessor Fund&#8217;s investment strategies and policies. The Fund&#8217;s current investment strategies and policies, including the ability to implement short positions, are different from those of the Predecessor Fund. As a result, the Fund&#8217;s performance may differ substantially from the performance information shown below for the period prior to March 24, 2014.<br /><br />Past performance of the Fund, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information for the Fund is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.<br /><br />The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to the Predecessor Fund prior to March 24, 2014. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown. <b>TOTAL RETURN CALENDAR YEAR (INSTITUTIONAL)</b> <b>Shareholder Fees<br/>(fees paid directly from your investment):</b> <b>Annual Fund Operating Expenses<br/>(expenses that you pay each year as a percentage of the value of your investment):</b> Assuming complete redemption at end of period Assuming no redemption 0.0375 0 0 0 0 0.025 0 0.01 0 0 0 0 <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleShareholderFees000192 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualFundOperatingExpenses000193 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleTransposed000194 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000195 column period compact * ~</div> The total return for Institutional Shares for the six-month period <br/>ended June 30, 2017 was 2.26%.<br/><br/>Best Quarter<br/> Q4 &#8216;11 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;+4.72%<br/><br/>Worst Quarter<br/> Q4 &#8216;14 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8211;3.74% <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualTotalReturnsBarChart000196 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000197 column period compact * ~</div> 0.0095 0.0095 0.0095 0.0095 0.0095 0.0095 0.0075 0 0 0.0025 0.005 0.0025 AVERAGE ANNUAL TOTAL RETURN <br/><br/><b>For the period ended December 31, 2016</b> 0.0119 0.0144 0.011 0.0119 0.0119 0.0119 0 0.0025 0 0 0 0 0.0119 0.011 0.0119 0.0119 0.0119 0.0119 0.003 0.003 0.003 0.003 0.003 0.003 0.0269 0.0344 0.0235 0.0244 0.0294 0.0269 -0.0135 -0.0135 -0.0129 -0.0135 -0.0135 -0.0135 0.0134 0.0209 0.0106 0.0109 0.0159 0.0134 506 312 108 111 162 383 <b>Shareholder Fees<br/>(fees paid directly from your investment):</b> 1056 931 610 631 782 939 <b>Annual Fund Operating Expenses<br/>(expenses that you pay each year as a percentage of the value of your investment):</b> Assuming complete redemption at end of period 1631 1673 1138 1178 1429 1522 Assuming no redemption 3188 3631 2587 2674 3165 3100 <b>Shareholder Fees<br/>(fees paid directly from your investment):</b> <b>Annual Fund Operating Expenses<br/>(expenses that you pay each year as a percentage of the value of your investment)</b> 212 931 1673 3631 0.0375 0 0 0 0 0.025 0 0.01 0 0 0 0 -0.0372 -0.0413 -0.0178 -0.021 0.0024 0.0024 -0.0023 -0.0372 0.0066 -0.0323 -0.042 -0.0286 -0.0243 -0.0186 -0.0174 -0.0216 -0.0323 0.0038 2013-12-16 2013-12-16 2013-12-16 2013-12-16 2013-12-16 2013-12-16 2013-12-16 2017-07-28 0.01 0.01 0.01 0.01 0.01 0.01 0.0025 0.0075 0 0 0.005 0.0025 0.0033 0.0058 0.0024 0.0033 0.0033 0.0033 0 0.0025 0 0 0 0 0.0033 0.0033 0.0024 0.0033 0.0033 0.0033 0.0003 0.0003 0.0003 0.0003 0.0003 0.0003 0.0161 0.0236 0.0127 0.0136 0.0186 0.0161 -0.0014 -0.0014 -0.0014 -0.0014 -0.0014 -0.0014 0.0147 0.0222 0.0113 0.0122 0.0172 0.0147 519 325 115 124 175 396 732 571 417 389 723 851 1091 993 731 684 1248 1206 2102 2168 1623 1522 2686 2203 -0.0813 225 0.0104 723 -0.0002 1248 2686 total return 2017-06-30 0.008 Best Quarter 2016-09-30 0.0245 0.0877 Worst Quarter 0.0476 2014-12-31 0.1063 -0.0542 0.0535 -0.0268 0.0068 0.0387 July 28, 2018 3.76 A contingent deferred sales charge (&#8220;CDSC&#8221;) of 1.00% is imposed on Class C Shares redeemed within 12 months of purchase. -0.0039 0.0161 0.0387 0.0217 0.0218 0.0377 0.0326 -0.0039 0.0066 0.0034 0.0251 0.0302 0.0344 0.0176 0.0131 0.0348 0.0251 0.0251 You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 45 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 48 and in Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts on page 84 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). 0.0032 0.0474 0.0501 0.0539 0.0327 0.0304 0.0541 0.0448 0.0474 100000 250000 The Fund&#8217;s &#8220;Management Fees&#8221; have been restated to reflect current fees. The &#8220;Total Annual Fund Operating Expenses&#8221; do not correlate to the ratios of net and total expenses to average net assets provided in the Financial Highlights, which reflect the operating expenses of the Fund and do not include &#8220;Acquired Fund Fees and Expenses&#8221;. The &#8220;Other Expenses&#8221; for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year. 2014-04-30 2014-04-30 2014-03-24 2014-03-24 2014-03-24 2014-04-30 2014-04-30 2017-07-28 <b>Loss of money is a risk of investing in the Fund.</b> <b>An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation ("FDIC") or any government agency.</b> <b>Non-Diversification Risk.</b> &nbsp;The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified mutual funds. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments. The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Class A Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Class C, Institutional, Investor, Class R and Class T Shares compare to those of a broad-based securities market index. www.gsamfunds.com/performance The Fund's past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. As of the date of the Prospectus, Class T Shares have not commenced operations. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R Shares (which are offered exclusively to employee benefit plans), will vary. <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleShareholderFees000222 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualFundOperatingExpenses000223 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleTransposed000224 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000225 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualTotalReturnsBarChart000226 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000227 column period compact * ~</div> The after-tax returns are for Institutional Shares only. The after-tax returns for Class A, Class C, Investor and Class T Shares, and returns for Class R Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. July 28, 2018 2.66 You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class A Shares&#8221; beginning on page 45 and &#8220;Shareholder Guide&#8212;Common Questions Applicable to the Purchase of Class T Shares&#8221; beginning on page 48 and in Appendix C&#8212;Additional Information About Sales Charge Variations, Waivers and Discounts on page 84 of the Prospectus and &#8220;Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends&#8221; beginning on page B-122 of the Fund&#8217;s Statement of Additional Information (&#8220;SAI&#8221;). 250000 100000 A contingent deferred sales charge (&#8220;CDSC&#8221;) of 1.00% is imposed on Class C Shares redeemed within 12 months of purchase. The &#8220;Other Expenses&#8221; for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year. The &#8220;Total Annual Fund Operating Expenses&#8221; do not correlate to the ratios of net and total expenses to average net assets provided in the Financial Highlights, which reflect the operating expenses of the Fund and do not include &#8220;Acquired Fund Fees and Expenses&#8221;. Assuming complete redemption at end of period Assuming no redemption <b>Loss of money is a risk of investing in the Fund.</b> <b>Non-Diversification Risk.</b> &nbsp;The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified mutual funds. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments. <b>An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) or any government agency.</b> The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund&#8217;s Institutional Shares from year to year; and (b) how the average annual total returns of the Fund&#8217;s Class A, Class C, Institutional, Investor, Class R and Class T Shares compare to those of a broad-based securities market index. www.gsamfunds.com/performance Past performance of the Fund, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. The bar chart (including &#8220;Best Quarter&#8221; and &#8220;Worst Quarter&#8221; information) does not reflect the sales loads applicable to the Predecessor Fund prior to March 24, 2014. If the sales loads were reflected, returns would be less. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The after-tax returns are for Institutional Shares only. The after-tax returns for Class A, Class C, Investor and Class T Shares, and returns for Class R Shares (which are offered exclusively to employee benefit plans), will vary. The Predecessor Fund commenced operations on June 15, 2009. As of the date of the Prospectus, Class T Shares have not commenced operations. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases. total return 2017-06-30 0.0226 Best Quarter 2011-12-31 0.0472 Worst Quarter 2014-12-31 -0.0374 <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleShareholderFees000212 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualFundOperatingExpenses000213 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleTransposed000214 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000215 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAnnualTotalReturnsBarChart000216 column period compact * ~</div> <div style="display:none">~ http://www.gsamfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000217 column period compact * ~</div> and secondarily, in seeking current income, may also consider the potential for capital appreciation. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases. The &#8220;Other Expenses&#8221; for Class R6 Shares have been restated The "Other Expenses" for Class R6 Shares have been restated The &#8220;Other Expenses&#8221; for Class R6 Shares have been restated The "Other Expenses" for Class R6 Shares have been restated The "Other Expenses" for Class R6 Shares have been restated The "Other Expenses" for Class R6 Shares have been restated The "Other Expenses" for Class R6 Shares have been restated The &#8220;Other Expenses&#8221; for Class R6 Shares have been restated A contingent deferred sales charge ("CDSC") of 1.00% is imposed on Class C Shares redeemed within 12 months of purchase. The Fund's "Management Fees" have been restated to reflect current fees. The "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year. As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases. A contingent deferred sales charge ("CDSC") of 0.65% is imposed on Class C Shares redeemed within 12 months of purchase. The Investment Adviser has agreed to reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, taxes, interest, service fees, shareholder administration fees, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.004% of the Fund's average daily net assets. This arrangement will remain in effect through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees. In addition, Goldman Sachs & Co. LLC ("Goldman Sachs") has agreed to waive a portion of the distribution (12b-1) and/or service fees equal to 0.35% of the average daily net assets attributable to Class C Shares of the Fund. Additionally, Goldman Sachs, the Fund's transfer agent, has agreed to waive a portion of its transfer agency fee (a component of "Other Expenses") equal to 0.04% as an annual percentage rate of the average daily net assets attributable to Class A, Class C, Investor and Class T Shares of the Fund. These arrangements will remain in effect through at least July 28, 2018, and prior to such date Goldman Sachs may not terminate the arrangements without the approval of the Board of Trustees. The Fund's "Total Annual Fund Operating Expenses After Fee Waiver and Expense Limitation" have been restated to reflect the fee waiver and expense limitation currently in effect. After Fee Waivers and Expense Limitation As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has been adjusted to reflect the higher maximum sales charge (load) imposed on purchases of Class T Shares. Class A Shares had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class A Shares impose a lower maximum sales charge (load) on purchases. Return for the Index is calculated from September 1, 1997, the commencement of the month nearest to the Class C Shares inception date. Return for the Index is calculated from October 1, 1994, the commencement of the month nearest to the Service Shares inception date. As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases. A contingent deferred sales charge ("CDSC") of 1.00% is imposed on Class C Shares redeemed within 12 months of purchase. The Investment Adviser has agreed to (i) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, shareholder administration fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.004% of the Fund's average daily net assets, and (ii) waive a portion of its management fee in order to achieve an effective net management fee rate of 0.37% as an annual percentage rate of average daily net assets of the Fund. These arrangements will remain in effect through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees. The Fund's "Total Annual Fund Operating Expenses After Fee Waiver and Expense Limitation" have been restated to reflect the fee waiver and expense limitation currently in effect. After Fee Waiver and Expense Limitation The Investment Adviser has agreed to reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.004% of the Fund's average daily net assets, through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees. Additionally, Goldman Sachs & Co. LLC ("Goldman Sachs"), the Fund's transfer agent, has agreed to waive a portion of its transfer agency fee (a component of "Other Expenses") equal to 0.05% as an annual percentage rate of the average daily net assets attributable to Class A, Class C, Investor and Class T Shares of the Fund. This arrangement will remain in effect through at least July 28, 2018, and prior to such date, Goldman Sachs may not terminate the arrangement without the approval of the Board of Trustees. The "Total Annual Fund Operating Expenses" do not correlate to the ratios of net and total expenses to average net assets provided in the Financial Highlights, which reflect the operating expenses of the Fund and do not include "Acquired Fund Fees and Expenses". The "Other Expenses" for Class R6 Shares have been restated and the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year. The Investment Adviser has agreed to reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification, and extraordinary expenses) to 0.004% of the Fund's average daily net assets. This arrangement will remain in effect through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees. After Expense Limitation The "Total Annual Fund Operating Expenses" do not correlate to the ratios of net and total expenses to average net assets provided in the Financial Highlights, which reflect the operating expenses of the Fund and do not include "Acquired Fund Fees and Expenses." The Investment Adviser has agreed to (i) waive a portion of its management fee payable by the Fund in an amount equal to any management fee it earns as an investment adviser to any of the affiliated funds in which the Fund invests; and (ii) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification, and extraordinary expenses) to 0.074% of the Fund's average daily net assets. These arrangements will remain in effect through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangements without the approval of the Board of Trustees. The Fund's "Total Annual Fund Operating Expenses After Fee Waiver and Expense Limitation" have been restated to reflect the fee waiver and expense limitation currently in effect. A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase. A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase. The Investment Adviser has agreed to reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, shareholder administration fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.004% of the Fund's average daily net assets. This arrangement will remain in effect through at least July 28, 2018 and prior to such date the Investment Adviser may not terminate the arrangements without the approval of the Board of Trustees. GSAM has agreed to waive a portion of its management fee payable by the Fund in an amount equal to any management fees it earns as an investment adviser to any of the affiliated funds in which the Fund invests through at least July 28, 2018. Prior to such date, GSAM may not terminate the arrangement without the approval of the Trustees. The Investment Adviser has agreed to reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification, and extraordinary expenses) to 0.074% of the Fund's average daily net assets. Additionally, Goldman Sachs & Co. LLC ("Goldman Sachs"), the Fund's transfer agent, has agreed to waive a portion of its transfer agency fee (a component of "Other Expenses") equal to 0.04% as an annual percentage rate of the average daily net assets attributable to Class A, Class C, Investor and Class T Shares of the Fund. These arrangements will remain in effect through at least July 28, 2018, and prior to such date, the Investment Adviser and Goldman Sachs may not terminate the arrangements without the approval of the Board of Trustees. The Fund's "Total Annual Fund Operating Expenses After Fee Waiver and Expense Limitation" have been restated to reflect the fee waiver and expense limitations currently in effect. The Investment Adviser has agreed to reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, shareholder administration fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.014% of the Fund's average daily net assets through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees. GSAM has agreed to waive a portion of its management fee payable by the Fund in an amount equal to any management fees it earns as an investment adviser to any of the affiliated funds in which the Fund invests through at least July 28, 2018. Prior to such date, GSAM may not terminate the arrangement without the approval of the Trustees. Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of the Class R6 Shares shown in the table above is that of the Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses. The Investment Adviser has agreed to reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.024% of the Fund's average daily net assets. This arrangement will remain in effect through at least July 28, 2018, and prior to such date, the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees. Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of Class R6 Shares shown in the table above is that of Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses. The "Total Annual Fund Operating Expenses" do not correlate to the ratios of net and total expenses to average net assets provided in the Financial Highlights, which reflect the operating expenses of the Fund and do not include "Acquired Fund Fees and Expenses." The Investment Adviser has agreed to reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification, and extraordinary expenses) to 0.024% of the Fund's average daily net assets through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees. The Investment Adviser has agreed to: (i) waive a portion of its management fee payable by the Fund in an amount equal to any management fees it earns as an investment adviser to any of the affiliated funds in which the Fund invests; and (ii) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, administration fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.064% of the Fund's average daily net assets. These arrangements will remain in effect through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangements without the approval of the Board of Trustees. The Investment Adviser has agreed to: (i) waive a portion of its management fee payable by the Fund in an amount equal to any management fees it earns as an investment adviser to any of the affiliated funds in which the Fund invests; and (ii) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, shareholder administration fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.014% of the Fund's average daily net assets. These arrangements will remain in effect through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangements without the approval of the Board of Trustees. Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of the Class R6 Shares shown in the table above is that of the Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses. Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of Class R6 Shares shown in the table above is that of Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses. As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases. The Investment Adviser has agreed to reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, shareholder administration fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.004% of the Fund's average daily net assets through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees. As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases. Calculated from September 1, 1991 to December 31, 2016. Calculated from September 1, 1997 to December 31, 2016. Calculated from April 1, 1997 to December 31, 2016. A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase. The "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year. The Investment Adviser has agreed to (i) waive a portion of its management fee payable by the Fund in an amount equal to any management fees it earns as an investment adviser to any of the affiliated funds in which the Fund invests; and (ii) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.104% of the Fund's average daily net assets. These arrangements will remain in effect through at least July 28, 2018, and prior to such date, the Investment Adviser may not terminate the arrangements without the approval of the Board of Trustees. The Investment Adviser has agreed to: (i) waive a portion of its management fee payable by the Fund in an amount equal to any management fees it earns as an investment adviser to any of the affiliated funds in which the Fund invests; and (ii) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.044% of the Fund's average daily net assets. These arrangements will remain in effect through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangements without the approval of the Board of Trustees. A contingent deferred sales charge ("CDSC") of 0.65% is imposed on Class C Shares redeemed within 12 months of purchase. The Investment Adviser has agreed to: (i) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, shareholder administration fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.004% of the Fund's average daily net assets; and (ii) waive a portion of its management fee payable by the Fund in an amount equal to any management fees it earns as an investment adviser to any of the affiliated funds in which the Fund invests. In addition, Goldman Sachs & Co. LLC ("Goldman Sachs") has agreed to waive a portion of the distribution (12b-1) and service fees equal to 0.35% of the average daily net assets attributable to Class C Shares of the Fund. These arrangements will remain in effect through at least July 28, 2018, and prior to such date the Investment Adviser or Goldman Sachs (as applicable) may not terminate the arrangements without the approval of the Board of Trustees. As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has been adjusted to reflect the higher maximum sales charge (load) imposed on purchases of Class T Shares. Class A Shares had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class A Shares impose a lower maximum sales charge (load) on purchases. Effective October 1, 2016, the Credit Suisse Leveraged Loan Index replaced the Bloomberg Barclays U.S. High Yield Loans Index as the Fund's benchmark because the Bloomberg Barclays U.S. High Yield Loans Index was discontinued. The Investment Adviser has agreed to (i) waive a portion of its management fee payable by the Fund in an amount equal to any management fees it earns as an investment adviser to any of the affiliated funds in which the Fund invests; and (ii) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.024% of the Fund's average daily net assets. Additionally, Goldman Sachs & Co. LLC ("Goldman Sachs"), the Fund's transfer agent, has agreed to waive a portion of its transfer agency fee (a component of "Other Expenses") equal to 0.03% as an annual percentage rate of the average daily net assets attributable to Class A, Class C, Investor and Class R Shares of the Fund. These arrangements will remain in effect through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangements without the approval of the Board of Trustees. The Investment Adviser has agreed to: (i) waive a portion of its management fee payable by the Fund in an amount equal to any management fees it earns as an investment adviser to any of the affiliated funds in which the Fund invests; and (ii) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.014% of the Fund's average daily net assets. In addition, Goldman Sachs & Co. LLC ("Goldman Sachs") has agreed to waive a portion of the distribution (12b-1) and service fees equal to 0.35% of the average daily net assets attributable to Class C Shares of the Fund. These arrangements will remain in effect through at least July 28, 2018, and prior to such date, the Investment Adviser or Goldman Sachs (as applicable) may not terminate the arrangement without the approval of the Board of Trustees. Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of the Class R6 Shares shown in the table above is that of the Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses. The "Other Expenses" for Class R6 Shares have been restated and the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year. The Investment Adviser has agreed to: (i) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, shareholder administration fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.004% of the Fund's average daily net assets; and (ii) waive a portion of its management fee payable by the Fund in an amount equal to any management fee it earns as an investment adviser to any of the affiliated funds in which the Fund invests. These arrangements will remain in effect through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangements without the approval of the Board of Trustees. As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases. The average annual total return figures for the Fund's Shares (other than Class A Shares), which do not impose an initial sales charge, do not reflect an initial sales charge for the periods shown. Prior to March 24, 2014 (the effective date of the reorganization of the Predecessor Fund into the Fund), the maximum initial sales charge applicable to sales of Common Shares of the Predecessor Fund was 2.50%, which is not reflected in the average annual total return figures shown. Class A, Class C, Investor, and Class R Shares commenced operations on April 30, 2014, and Institutional Shares commenced operations on March 24, 2014. Prior to April 30, 2014, the performance of the Class A, Class C, Investor, and Class R Shares is that of the Institutional Shares (for the period between March 24, 2014 and April 30, 2014) and that of the Predecessor Fund's Common Shares (for the period prior to March 24, 2014). Prior to March 24, 2014, the performance of the Institutional Shares is that of the Predecessor Fund's Common Shares. Performance has been adjusted for the Class A, Class C and Class R Shares to reflect the fees of these share classes. Performance has not been adjusted for the Institutional and Investor Shares to reflect the fees of these share classes, however, if performance had been adjusted, it would have been higher than that of the Common Shares. The "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year. The Investment Adviser has agreed to (i) waive a portion of the management fee in an amount equal to the management fee paid to the Investment Adviser by the Subsidiary at an annual rate of 0.42% of the Subsidiary's average daily net assets, and (ii) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.064% of the Fund's average daily net assets. Additionally, Goldman Sachs & Co. LLC ("Goldman Sachs"), the Fund's transfer agent, has agreed to waive a portion of its transfer agency fee (a component of "Other Expenses") equal to 0.06% as an annual percentage rate of the average daily net assets attributable to Class A, Class C, Investor, Class R, and Class T Shares of the Fund. These arrangements will remain in effect through at least July 28, 2018, and prior to such date, the Investment Adviser may not terminate the arrangements without the approval of the Board of Trustees. The Investment Adviser has agreed to (i) waive a portion of its management fee payable by the Fund in an amount equal to any management fee it earns as an investment adviser to any of the affiliated funds in which the Fund invests, and (ii) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.094% of the Fund's average daily net assets. These arrangements will remain in effect through at least July 28, 2018, and prior to such date, the Investment Adviser may not terminate the arrangements without the approval of the Board of Trustees. 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Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Document Type dei_DocumentType 485BPOS
Document Period End Date dei_DocumentPeriodEndDate Mar. 31, 2017
Registrant Name dei_EntityRegistrantName GOLDMAN SACHS TRUST
Central Index Key dei_EntityCentralIndexKey 0000822977
Amendment Flag dei_AmendmentFlag false
Document Creation Date dei_DocumentCreationDate Jul. 28, 2017
Document Effective Date dei_DocumentEffectiveDate Jul. 28, 2017
Prospectus Date rr_ProspectusDate Jul. 28, 2017
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Goldman Sachs High Yield Municipal Fund
Goldman Sachs High Yield Municipal Fund—Summary
Investment Objective
The Goldman Sachs High Yield Municipal Fund (the “Fund”) seeks a high level of current income that is exempt from regular federal income tax and may also consider the potential for capital appreciation.
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 38 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 42 and in “Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts” on page 72 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees
(fees paid directly from your investment)
Shareholder Fees - Goldman Sachs High Yield Municipal Fund
Class A
Class C
Institutional
Investor
Class T
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 4.50% none none none 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) [1] none 1.00% none none none
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 60 calendar days or less) 2.00% 2.00% 2.00% 2.00% 2.00%
[1] A contingent deferred sales charge ("CDSC") of 1.00% is imposed on Class C Shares redeemed within 12 months of purchase.
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses - Goldman Sachs High Yield Municipal Fund
Class A
Class C
Institutional
Investor
Class T
Management Fees 0.52% 0.52% 0.52% 0.52% 0.52%
Distribution and/or Service (12b-1) Fees 0.25% 0.75% none none 0.25%
Other Expenses [1] 0.15% 0.40% 0.06% 0.15% 0.15%
Service Fees none 0.25% none none none
All Other Expenses 0.15% 0.15% 0.06% 0.15% 0.15%
Total Annual Fund Operating Expenses 0.92% 1.67% 0.58% 0.67% 0.92%
Fee Waiver and Expense Limitation [2] (0.07%) (0.07%) (0.02%) (0.07%) (0.07%)
Total Annual Fund Operating Expenses [3] 0.85% 1.60% 0.56% 0.60% 0.85%
[1] The "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[2] The Investment Adviser has agreed to reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.004% of the Fund's average daily net assets, through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees. Additionally, Goldman Sachs & Co. LLC ("Goldman Sachs"), the Fund's transfer agent, has agreed to waive a portion of its transfer agency fee (a component of "Other Expenses") equal to 0.05% as an annual percentage rate of the average daily net assets attributable to Class A, Class C, Investor and Class T Shares of the Fund. This arrangement will remain in effect through at least July 28, 2018, and prior to such date, Goldman Sachs may not terminate the arrangement without the approval of the Board of Trustees.
[3] After Fee Waiver and Expense Limitation
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Investor and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Investor and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Assuming complete redemption at end of period
Expense Example - Goldman Sachs High Yield Municipal Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A Shares 533 723 930 1,524
Class C Shares 263 520 901 1,970
Institutional Shares 57 184 322 724
Investor Shares 61 207 366 828
Class T Shares 335 529 740 1,347
Assuming no redemption
Expense Example, No Redemption
1 Year
3 Years
5 Years
10 Years
Goldman Sachs High Yield Municipal Fund | Class C Shares | USD ($) 163 520 901 1,970
Portfolio Turnover
The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 31% of the average value of its portfolio.
Principal Strategy
The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in fixed income securities issued by or on behalf of states, territories and possessions of the United States (including the District of Columbia) and the political subdivisions, agencies and instrumentalities thereof (“Municipal Securities”), the interest on which is exempt from regular federal income tax (i.e., excluded from gross income for federal income tax purposes). The Fund invests, under normal circumstances, a majority of its total assets measured at the time of purchase (“Total Assets”) in high-yield Municipal Securities. High-yield securities are securities that, at the time of purchase, are medium quality or non-investment grade. Medium quality securities are rated BBB or Baa by a nationally recognized statistical rating organization (“NRSRO”), and non-investment grade securities are securities rated BB+, Ba1 or below by an NRSRO. Non-investment grade securities are commonly known as “junk bonds.” The Fund may also invest in unrated securities determined by the Investment Adviser to be of comparable credit quality. The Fund may purchase the securities of issuers that are in default.

Under normal circumstances, the Fund may also invest the remainder of its Total Assets in higher grade fixed income securities. In pursuing its principal investment strategy, the Investment Adviser will assess the relative value in the Municipal Securities market from both a credit and yield curve perspective. Individual securities will be considered for purchase or sale based on credit profile, risk, structure, pricing, and portfolio impact, as well as duration management, restructuring, opportunistic trading and tax loss harvesting. Tax-exempt securities offering the high current income sought by the Fund may be predominantly in the lower rating categories of NRSROs (BB+/Ba1 or lower).

The Fund may focus its investments in issuers within the same state or economic sector.

The Fund may invest up to 100% of its Net Assets in private activity bonds, the interest on which (including the Fund’s distributions of such interest) may be a preference item for purposes of the federal alternative minimum tax. 100% of the Fund’s portfolio will be invested in U.S. dollar-denominated securities.

The Fund may invest in securities of other investment companies (specifically, registered money market funds) to manage uninvested cash in the portfolio.

Under normal interest rate conditions, the Fund’s duration is expected to approximate that of the Goldman Sachs High Yield Municipal Fund Composite Index (comprised of 40% Bloomberg Barclays Municipal Bond Index and 60% Bloomberg Barclays Municipal High Yield Bond Index), plus or minus two years. (Historically over the last five years, the duration of the Goldman Sachs High Yield Municipal Fund Composite Index has ranged between 6.27 and 7.70 years). “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

The Fund’s benchmark index is the Goldman Sachs High Yield Municipal Fund Composite Index, which is comprised of the Bloomberg Barclays Municipal Bond Index (40%) and the Bloomberg Barclays Municipal High Yield Bond Index (60%).

THE FUND IS NON-DIVERSIFIED UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED (“INVESTMENT COMPANY ACT”), AND MAY INVEST A LARGER PERCENTAGE OF ITS ASSETS IN FEWER ISSUERS THAN DIVERSIFIED MUTUAL FUNDS.
Principal Risks of the Fund
Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.

Credit/Default Risk.  An issuer or guarantor of fixed income securities held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant net asset value (“NAV”) deterioration. These risks are more pronounced in connection with the Fund’s investments in non-investment grade fixed income securities.

Geographic and Sector Risk.  If the Fund invests a significant portion of its total assets in certain issuers within the same state, geographic region or economic sector, an adverse economic, business, political, environmental or other development affecting that state, region or sector may affect the value of the Fund’s investments more than if its investments were not so focused.

Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on markets and the Fund’s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.

Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.

Liquidity Risk.  The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests, or other reasons. To meet redemption requests, the Fund may be forced to sell securities at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.

Market Risk.  The value of the securities in which the Fund invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/or general economic conditions throughout the world due to increasingly interconnected global economies and financial markets.

Municipal Securities Risk.  Municipal Securities are subject to credit/default risk, interest rate risk and certain additional risks. The Fund may be more sensitive to adverse economic, business or political developments if it invests a substantial portion of its assets in the bonds of similar projects (such as those relating to education, health care, housing, transportation, and utilities), industrial development bonds, or in particular types of municipal securities (such as general obligation bonds, private activity bonds and moral obligation bonds). Generally, municipalities continue to experience difficulties in the current economic and political environment.

Non-Diversification Risk.  The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than a diversified mutual fund. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.

Non-Investment Grade Fixed Income Securities Risk.  Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as “junk bonds”) are considered speculative and are subject to the increased risk of an issuer’s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity. The Fund may purchase the securities of issuers that are in default.

State/Territory Specific Risk.  The Fund’s investments in municipal obligations of issuers located in a particular state or U.S. territory may be adversely affected by political, economic and regulatory developments within that state or U.S. territory. Such developments may affect the financial condition of a state’s or territory’s political subdivisions, agencies, instrumentalities and public authorities and heighten the risks associated with investing in bonds issued by such parties, which could, in turn, adversely affect the Fund’s income, NAV, liquidity, and/or ability to preserve or realize capital appreciation.

Tax Risk.  Any proposed or actual changes in income tax rates or the tax-exempt status of interest income from Municipal Securities can significantly affect the demand for and supply, liquidity and marketability of Municipal Securities. Such changes may affect the Fund’s net asset value and ability to acquire and dispose of Municipal Securities at desirable yield and price levels.
Performance
The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Institutional Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Investor and Class T Shares compare to those of certain broad-based securities market indices and to the Goldman Sachs High Yield Municipal Fund Composite Index, a custom benchmark comprised of the Bloomberg Barclays Municipal Bond Index (40%) and the Bloomberg Barclays Municipal High Yield Bond Index (60%). The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
TOTAL RETURN CALENDAR YEAR (INSTITUTIONAL)
Bar Chart
The total return for Institutional Shares for the six-month period
ended June 30, 2017 was 6.23%.

Best Quarter
Q3 ‘09              +16.87%

Worst Quarter
Q4 ‘08              –22.35%
AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Average Annual Total Returns - Goldman Sachs High Yield Municipal Fund
1 Year
5 Years
10 Years
Since Inception
Inception Date
Class A Shares (1.58%) 5.16% 2.16% 4.34% Apr. 30, 2000
Class A Shares | Returns After Taxes on Distributions (1.68%) 5.07% 2.10% 4.29% Apr. 30, 2000
Class A Shares | Returns After Taxes on Distributions and Sale of Fund Shares 0.88% 4.98% 2.56% 4.42% Apr. 30, 2000
Class A Shares | Bloomberg Barclays Municipal Bond Index (reflects no deduction for fees, expenses or taxes) 0.25% 3.28% 4.24% 5.00% Apr. 30, 2000
Class A Shares | Bloomberg Barclays Municipal High Yield Bond Index (reflects no deduction for fees, expenses or taxes) 2.98% 5.90% 4.03% 5.60% Apr. 30, 2000
Class A Shares | Goldman Sachs High Yield Municipal Fund Composite Index 1.88% 4.86% 4.17% 5.39% Apr. 30, 2000
Class C Shares 1.30% 5.34% 1.86% 3.84% Apr. 30, 2000
Class C Shares | Bloomberg Barclays Municipal Bond Index (reflects no deduction for fees, expenses or taxes) 0.25% 3.28% 4.24% 5.00% Apr. 30, 2000
Class C Shares | Bloomberg Barclays Municipal High Yield Bond Index (reflects no deduction for fees, expenses or taxes) 2.98% 5.90% 4.03% 5.60% Apr. 30, 2000
Class C Shares | Goldman Sachs High Yield Municipal Fund Composite Index 1.88% 4.86% 4.17% 5.39% Apr. 30, 2000
Institutional Shares 3.38% 6.43% 2.95% 4.98% Apr. 30, 2000
Institutional Shares | Bloomberg Barclays Municipal Bond Index (reflects no deduction for fees, expenses or taxes) 0.25% 3.28% 4.24% 5.00% Apr. 30, 2000
Institutional Shares | Bloomberg Barclays Municipal High Yield Bond Index (reflects no deduction for fees, expenses or taxes) 2.98% 5.90% 4.03% 5.60% Apr. 30, 2000
Institutional Shares | Goldman Sachs High Yield Municipal Fund Composite Index 1.88% 4.86% 4.17% 5.39% Apr. 30, 2000
Investor Shares 3.45% 6.41% 6.14% Jul. 30, 2010
Investor Shares | Bloomberg Barclays Municipal Bond Index (reflects no deduction for fees, expenses or taxes) 0.25% 3.28% 3.83% Jul. 30, 2010
Investor Shares | Bloomberg Barclays Municipal High Yield Bond Index (reflects no deduction for fees, expenses or taxes) 2.98% 5.90% 5.87% Jul. 30, 2010
Investor Shares | Goldman Sachs High Yield Municipal Fund Composite Index 1.88% 4.86% 5.06% Jul. 30, 2010
Class T Shares [1] (1.58%) 5.16% 2.16% 4.34% Jul. 28, 2017
Class T Shares | Bloomberg Barclays Municipal Bond Index (reflects no deduction for fees, expenses or taxes) [1] 0.25% 3.28% 4.24% 5.00% Jul. 28, 2017
Class T Shares | Bloomberg Barclays Municipal High Yield Bond Index (reflects no deduction for fees, expenses or taxes) [1] 2.98% 5.90% 4.03% 5.60% Jul. 28, 2017
Class T Shares | Goldman Sachs High Yield Municipal Fund Composite Index [1] 1.88% 4.86% 4.17% 5.39% Jul. 28, 2017
[1] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

XML 13 R9.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName GOLDMAN SACHS TRUST
Prospectus Date rr_ProspectusDate Jul. 28, 2017
Goldman Sachs High Yield Municipal Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Goldman Sachs High Yield Municipal Fund—Summary
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Goldman Sachs High Yield Municipal Fund (the “Fund”) seeks a high level of current income that is exempt from regular federal income tax and may also consider the potential for capital appreciation.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 38 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 42 and in “Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts” on page 72 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees
(fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination July 28, 2018
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 31% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 31.00%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock A contingent deferred sales charge ("CDSC") of 1.00% is imposed on Class C Shares redeemed within 12 months of purchase.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 38 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 42 and in “Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts” on page 72 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates The "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Investor and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Investor and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption Assuming complete redemption at end of period
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption Assuming no redemption
Strategy [Heading] rr_StrategyHeading Principal Strategy
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in fixed income securities issued by or on behalf of states, territories and possessions of the United States (including the District of Columbia) and the political subdivisions, agencies and instrumentalities thereof (“Municipal Securities”), the interest on which is exempt from regular federal income tax (i.e., excluded from gross income for federal income tax purposes). The Fund invests, under normal circumstances, a majority of its total assets measured at the time of purchase (“Total Assets”) in high-yield Municipal Securities. High-yield securities are securities that, at the time of purchase, are medium quality or non-investment grade. Medium quality securities are rated BBB or Baa by a nationally recognized statistical rating organization (“NRSRO”), and non-investment grade securities are securities rated BB+, Ba1 or below by an NRSRO. Non-investment grade securities are commonly known as “junk bonds.” The Fund may also invest in unrated securities determined by the Investment Adviser to be of comparable credit quality. The Fund may purchase the securities of issuers that are in default.

Under normal circumstances, the Fund may also invest the remainder of its Total Assets in higher grade fixed income securities. In pursuing its principal investment strategy, the Investment Adviser will assess the relative value in the Municipal Securities market from both a credit and yield curve perspective. Individual securities will be considered for purchase or sale based on credit profile, risk, structure, pricing, and portfolio impact, as well as duration management, restructuring, opportunistic trading and tax loss harvesting. Tax-exempt securities offering the high current income sought by the Fund may be predominantly in the lower rating categories of NRSROs (BB+/Ba1 or lower).

The Fund may focus its investments in issuers within the same state or economic sector.

The Fund may invest up to 100% of its Net Assets in private activity bonds, the interest on which (including the Fund’s distributions of such interest) may be a preference item for purposes of the federal alternative minimum tax. 100% of the Fund’s portfolio will be invested in U.S. dollar-denominated securities.

The Fund may invest in securities of other investment companies (specifically, registered money market funds) to manage uninvested cash in the portfolio.

Under normal interest rate conditions, the Fund’s duration is expected to approximate that of the Goldman Sachs High Yield Municipal Fund Composite Index (comprised of 40% Bloomberg Barclays Municipal Bond Index and 60% Bloomberg Barclays Municipal High Yield Bond Index), plus or minus two years. (Historically over the last five years, the duration of the Goldman Sachs High Yield Municipal Fund Composite Index has ranged between 6.27 and 7.70 years). “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

The Fund’s benchmark index is the Goldman Sachs High Yield Municipal Fund Composite Index, which is comprised of the Bloomberg Barclays Municipal Bond Index (40%) and the Bloomberg Barclays Municipal High Yield Bond Index (60%).

THE FUND IS NON-DIVERSIFIED UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED (“INVESTMENT COMPANY ACT”), AND MAY INVEST A LARGER PERCENTAGE OF ITS ASSETS IN FEWER ISSUERS THAN DIVERSIFIED MUTUAL FUNDS.
Risk [Heading] rr_RiskHeading Principal Risks of the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.

Credit/Default Risk.  An issuer or guarantor of fixed income securities held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant net asset value (“NAV”) deterioration. These risks are more pronounced in connection with the Fund’s investments in non-investment grade fixed income securities.

Geographic and Sector Risk.  If the Fund invests a significant portion of its total assets in certain issuers within the same state, geographic region or economic sector, an adverse economic, business, political, environmental or other development affecting that state, region or sector may affect the value of the Fund’s investments more than if its investments were not so focused.

Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on markets and the Fund’s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.

Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.

Liquidity Risk.  The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests, or other reasons. To meet redemption requests, the Fund may be forced to sell securities at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.

Market Risk.  The value of the securities in which the Fund invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/or general economic conditions throughout the world due to increasingly interconnected global economies and financial markets.

Municipal Securities Risk.  Municipal Securities are subject to credit/default risk, interest rate risk and certain additional risks. The Fund may be more sensitive to adverse economic, business or political developments if it invests a substantial portion of its assets in the bonds of similar projects (such as those relating to education, health care, housing, transportation, and utilities), industrial development bonds, or in particular types of municipal securities (such as general obligation bonds, private activity bonds and moral obligation bonds). Generally, municipalities continue to experience difficulties in the current economic and political environment.

Non-Diversification Risk.  The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than a diversified mutual fund. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.

Non-Investment Grade Fixed Income Securities Risk.  Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as “junk bonds”) are considered speculative and are subject to the increased risk of an issuer’s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity. The Fund may purchase the securities of issuers that are in default.

State/Territory Specific Risk.  The Fund’s investments in municipal obligations of issuers located in a particular state or U.S. territory may be adversely affected by political, economic and regulatory developments within that state or U.S. territory. Such developments may affect the financial condition of a state’s or territory’s political subdivisions, agencies, instrumentalities and public authorities and heighten the risks associated with investing in bonds issued by such parties, which could, in turn, adversely affect the Fund’s income, NAV, liquidity, and/or ability to preserve or realize capital appreciation.

Tax Risk.  Any proposed or actual changes in income tax rates or the tax-exempt status of interest income from Municipal Securities can significantly affect the demand for and supply, liquidity and marketability of Municipal Securities. Such changes may affect the Fund’s net asset value and ability to acquire and dispose of Municipal Securities at desirable yield and price levels.
Risk Lose Money [Text] rr_RiskLoseMoney Loss of money is a risk of investing in the Fund.
Risk Nondiversified Status [Text] rr_RiskNondiversifiedStatus Non-Diversification Risk.  The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than a diversified mutual fund. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation ("FDIC") or any government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Institutional Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Investor and Class T Shares compare to those of certain broad-based securities market indices and to the Goldman Sachs High Yield Municipal Fund Composite Index, a custom benchmark comprised of the Bloomberg Barclays Municipal Bond Index (40%) and the Bloomberg Barclays Municipal High Yield Bond Index (60%). The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Institutional Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Investor and Class T Shares compare to those of certain broad-based securities market indices and to the Goldman Sachs High Yield Municipal Fund Composite Index, a custom benchmark comprised of the Bloomberg Barclays Municipal Bond Index (40%) and the Bloomberg Barclays Municipal High Yield Bond Index (60%).
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess As of the date of the Prospectus, Class T Shares have not commenced operations.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.gsamfunds.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading TOTAL RETURN CALENDAR YEAR (INSTITUTIONAL)
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The total return for Institutional Shares for the six-month period
ended June 30, 2017 was 6.23%.

Best Quarter
Q3 ‘09              +16.87%

Worst Quarter
Q4 ‘08              –22.35%
Performance Table Heading rr_PerformanceTableHeading AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Performance Table Does Reflect Sales Loads rr_PerformanceTableDoesReflectSalesLoads Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Goldman Sachs High Yield Municipal Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 4.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 60 calendar days or less) rr_RedemptionFeeOverRedemption 2.00%
Management Fees rr_ManagementFeesOverAssets 0.52%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.15%
Other Expenses rr_OtherExpensesOverAssets 0.15% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.92%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.07%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.85% [4]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 100,000
1 Year rr_ExpenseExampleYear01 533
3 Years rr_ExpenseExampleYear03 723
5 Years rr_ExpenseExampleYear05 930
10 Years rr_ExpenseExampleYear10 $ 1,524
1 Year rr_AverageAnnualReturnYear01 (1.58%)
5 Years rr_AverageAnnualReturnYear05 5.16%
10 Years rr_AverageAnnualReturnYear10 2.16%
Since Inception rr_AverageAnnualReturnSinceInception 4.34%
Inception Date rr_AverageAnnualReturnInceptionDate Apr. 30, 2000
Goldman Sachs High Yield Municipal Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 60 calendar days or less) rr_RedemptionFeeOverRedemption 2.00%
Management Fees rr_ManagementFeesOverAssets 0.52%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
All Other Expenses rr_Component3OtherExpensesOverAssets 0.15%
Other Expenses rr_OtherExpensesOverAssets 0.40% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.67%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.07%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.60% [4]
1 Year rr_ExpenseExampleYear01 $ 263
3 Years rr_ExpenseExampleYear03 520
5 Years rr_ExpenseExampleYear05 901
10 Years rr_ExpenseExampleYear10 1,970
1 Year rr_ExpenseExampleNoRedemptionYear01 163
3 Years rr_ExpenseExampleNoRedemptionYear03 520
5 Years rr_ExpenseExampleNoRedemptionYear05 901
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,970
1 Year rr_AverageAnnualReturnYear01 1.30%
5 Years rr_AverageAnnualReturnYear05 5.34%
10 Years rr_AverageAnnualReturnYear10 1.86%
Since Inception rr_AverageAnnualReturnSinceInception 3.84%
Inception Date rr_AverageAnnualReturnInceptionDate Apr. 30, 2000
Goldman Sachs High Yield Municipal Fund | Institutional  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 60 calendar days or less) rr_RedemptionFeeOverRedemption 2.00%
Management Fees rr_ManagementFeesOverAssets 0.52%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.06%
Other Expenses rr_OtherExpensesOverAssets 0.06% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.58%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.02%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.56% [4]
1 Year rr_ExpenseExampleYear01 $ 57
3 Years rr_ExpenseExampleYear03 184
5 Years rr_ExpenseExampleYear05 322
10 Years rr_ExpenseExampleYear10 $ 724
2007 rr_AnnualReturn2007 (6.78%)
2008 rr_AnnualReturn2008 (29.79%)
2009 rr_AnnualReturn2009 29.03%
2010 rr_AnnualReturn2010 5.25%
2011 rr_AnnualReturn2011 10.25%
2012 rr_AnnualReturn2012 16.25%
2013 rr_AnnualReturn2013 (5.45%)
2014 rr_AnnualReturn2014 15.55%
2015 rr_AnnualReturn2015 3.99%
2016 rr_AnnualReturn2016 3.38%
Year to Date Return, Label rr_YearToDateReturnLabel total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 6.23%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 16.87%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (22.35%)
1 Year rr_AverageAnnualReturnYear01 3.38%
5 Years rr_AverageAnnualReturnYear05 6.43%
10 Years rr_AverageAnnualReturnYear10 2.95%
Since Inception rr_AverageAnnualReturnSinceInception 4.98%
Inception Date rr_AverageAnnualReturnInceptionDate Apr. 30, 2000
Goldman Sachs High Yield Municipal Fund | Investor  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 60 calendar days or less) rr_RedemptionFeeOverRedemption 2.00%
Management Fees rr_ManagementFeesOverAssets 0.52%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.15%
Other Expenses rr_OtherExpensesOverAssets 0.15% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.67%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.07%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.60% [4]
1 Year rr_ExpenseExampleYear01 $ 61
3 Years rr_ExpenseExampleYear03 207
5 Years rr_ExpenseExampleYear05 366
10 Years rr_ExpenseExampleYear10 $ 828
1 Year rr_AverageAnnualReturnYear01 3.45%
5 Years rr_AverageAnnualReturnYear05 6.41%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 6.14%
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 30, 2010
Goldman Sachs High Yield Municipal Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 60 calendar days or less) rr_RedemptionFeeOverRedemption 2.00%
Management Fees rr_ManagementFeesOverAssets 0.52%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.15%
Other Expenses rr_OtherExpensesOverAssets 0.15% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.92%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.07%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.85% [4]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
1 Year rr_ExpenseExampleYear01 335
3 Years rr_ExpenseExampleYear03 529
5 Years rr_ExpenseExampleYear05 740
10 Years rr_ExpenseExampleYear10 $ 1,347
1 Year rr_AverageAnnualReturnYear01 (1.58%) [5]
5 Years rr_AverageAnnualReturnYear05 5.16% [5]
10 Years rr_AverageAnnualReturnYear10 2.16% [5]
Since Inception rr_AverageAnnualReturnSinceInception 4.34% [5]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [5]
Goldman Sachs High Yield Municipal Fund | Returns After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (1.68%)
5 Years rr_AverageAnnualReturnYear05 5.07%
10 Years rr_AverageAnnualReturnYear10 2.10%
Since Inception rr_AverageAnnualReturnSinceInception 4.29%
Inception Date rr_AverageAnnualReturnInceptionDate Apr. 30, 2000
Goldman Sachs High Yield Municipal Fund | Returns After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.88%
5 Years rr_AverageAnnualReturnYear05 4.98%
10 Years rr_AverageAnnualReturnYear10 2.56%
Since Inception rr_AverageAnnualReturnSinceInception 4.42%
Inception Date rr_AverageAnnualReturnInceptionDate Apr. 30, 2000
Goldman Sachs High Yield Municipal Fund | Bloomberg Barclays Municipal Bond Index (reflects no deduction for fees, expenses or taxes) | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.25%
5 Years rr_AverageAnnualReturnYear05 3.28%
10 Years rr_AverageAnnualReturnYear10 4.24%
Since Inception rr_AverageAnnualReturnSinceInception 5.00%
Inception Date rr_AverageAnnualReturnInceptionDate Apr. 30, 2000
Goldman Sachs High Yield Municipal Fund | Bloomberg Barclays Municipal Bond Index (reflects no deduction for fees, expenses or taxes) | Class C  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.25%
5 Years rr_AverageAnnualReturnYear05 3.28%
10 Years rr_AverageAnnualReturnYear10 4.24%
Since Inception rr_AverageAnnualReturnSinceInception 5.00%
Inception Date rr_AverageAnnualReturnInceptionDate Apr. 30, 2000
Goldman Sachs High Yield Municipal Fund | Bloomberg Barclays Municipal Bond Index (reflects no deduction for fees, expenses or taxes) | Institutional  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.25%
5 Years rr_AverageAnnualReturnYear05 3.28%
10 Years rr_AverageAnnualReturnYear10 4.24%
Since Inception rr_AverageAnnualReturnSinceInception 5.00%
Inception Date rr_AverageAnnualReturnInceptionDate Apr. 30, 2000
Goldman Sachs High Yield Municipal Fund | Bloomberg Barclays Municipal Bond Index (reflects no deduction for fees, expenses or taxes) | Investor  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.25%
5 Years rr_AverageAnnualReturnYear05 3.28%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 3.83%
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 30, 2010
Goldman Sachs High Yield Municipal Fund | Bloomberg Barclays Municipal Bond Index (reflects no deduction for fees, expenses or taxes) | Class T  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.25% [5]
5 Years rr_AverageAnnualReturnYear05 3.28% [5]
10 Years rr_AverageAnnualReturnYear10 4.24% [5]
Since Inception rr_AverageAnnualReturnSinceInception 5.00% [5]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [5]
Goldman Sachs High Yield Municipal Fund | Bloomberg Barclays Municipal High Yield Bond Index (reflects no deduction for fees, expenses or taxes) | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.98%
5 Years rr_AverageAnnualReturnYear05 5.90%
10 Years rr_AverageAnnualReturnYear10 4.03%
Since Inception rr_AverageAnnualReturnSinceInception 5.60%
Inception Date rr_AverageAnnualReturnInceptionDate Apr. 30, 2000
Goldman Sachs High Yield Municipal Fund | Bloomberg Barclays Municipal High Yield Bond Index (reflects no deduction for fees, expenses or taxes) | Class C  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.98%
5 Years rr_AverageAnnualReturnYear05 5.90%
10 Years rr_AverageAnnualReturnYear10 4.03%
Since Inception rr_AverageAnnualReturnSinceInception 5.60%
Inception Date rr_AverageAnnualReturnInceptionDate Apr. 30, 2000
Goldman Sachs High Yield Municipal Fund | Bloomberg Barclays Municipal High Yield Bond Index (reflects no deduction for fees, expenses or taxes) | Institutional  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.98%
5 Years rr_AverageAnnualReturnYear05 5.90%
10 Years rr_AverageAnnualReturnYear10 4.03%
Since Inception rr_AverageAnnualReturnSinceInception 5.60%
Inception Date rr_AverageAnnualReturnInceptionDate Apr. 30, 2000
Goldman Sachs High Yield Municipal Fund | Bloomberg Barclays Municipal High Yield Bond Index (reflects no deduction for fees, expenses or taxes) | Investor  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.98%
5 Years rr_AverageAnnualReturnYear05 5.90%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 5.87%
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 30, 2010
Goldman Sachs High Yield Municipal Fund | Bloomberg Barclays Municipal High Yield Bond Index (reflects no deduction for fees, expenses or taxes) | Class T  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.98% [5]
5 Years rr_AverageAnnualReturnYear05 5.90% [5]
10 Years rr_AverageAnnualReturnYear10 4.03% [5]
Since Inception rr_AverageAnnualReturnSinceInception 5.60% [5]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [5]
Goldman Sachs High Yield Municipal Fund | Goldman Sachs High Yield Municipal Fund Composite Index | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.88%
5 Years rr_AverageAnnualReturnYear05 4.86%
10 Years rr_AverageAnnualReturnYear10 4.17%
Since Inception rr_AverageAnnualReturnSinceInception 5.39%
Inception Date rr_AverageAnnualReturnInceptionDate Apr. 30, 2000
Goldman Sachs High Yield Municipal Fund | Goldman Sachs High Yield Municipal Fund Composite Index | Class C  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.88%
5 Years rr_AverageAnnualReturnYear05 4.86%
10 Years rr_AverageAnnualReturnYear10 4.17%
Since Inception rr_AverageAnnualReturnSinceInception 5.39%
Inception Date rr_AverageAnnualReturnInceptionDate Apr. 30, 2000
Goldman Sachs High Yield Municipal Fund | Goldman Sachs High Yield Municipal Fund Composite Index | Institutional  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.88%
5 Years rr_AverageAnnualReturnYear05 4.86%
10 Years rr_AverageAnnualReturnYear10 4.17%
Since Inception rr_AverageAnnualReturnSinceInception 5.39%
Inception Date rr_AverageAnnualReturnInceptionDate Apr. 30, 2000
Goldman Sachs High Yield Municipal Fund | Goldman Sachs High Yield Municipal Fund Composite Index | Investor  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.88%
5 Years rr_AverageAnnualReturnYear05 4.86%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 5.06%
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 30, 2010
Goldman Sachs High Yield Municipal Fund | Goldman Sachs High Yield Municipal Fund Composite Index | Class T  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.88% [5]
5 Years rr_AverageAnnualReturnYear05 4.86% [5]
10 Years rr_AverageAnnualReturnYear10 4.17% [5]
Since Inception rr_AverageAnnualReturnSinceInception 5.39% [5]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [5]
[1] A contingent deferred sales charge ("CDSC") of 1.00% is imposed on Class C Shares redeemed within 12 months of purchase.
[2] The "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[3] The Investment Adviser has agreed to reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.004% of the Fund's average daily net assets, through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees. Additionally, Goldman Sachs & Co. LLC ("Goldman Sachs"), the Fund's transfer agent, has agreed to waive a portion of its transfer agency fee (a component of "Other Expenses") equal to 0.05% as an annual percentage rate of the average daily net assets attributable to Class A, Class C, Investor and Class T Shares of the Fund. This arrangement will remain in effect through at least July 28, 2018, and prior to such date, Goldman Sachs may not terminate the arrangement without the approval of the Board of Trustees.
[4] After Fee Waiver and Expense Limitation
[5] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
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Goldman Sachs Dynamic Municipal Income Fund
Goldman Sachs Dynamic Municipal Income Fund—Summary
Investment Objective
The Goldman Sachs Dynamic Municipal Income Fund (the “Fund”) seeks a high level of current income that is exempt from regular federal income tax.
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 38 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 42 and in “Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts” on page 72 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees
(fees paid directly from your investment)
Shareholder Fees - Goldman Sachs Dynamic Municipal Income Fund
Class A
Class C
Institutional
Service
Investor
Class T
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 3.75% none none none none 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) [1] none 1.00% none none none none
[1] A contingent deferred sales charge ("CDSC") of 1.00% is imposed on Class C Shares redeemed within 12 months of purchase.
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses - Goldman Sachs Dynamic Municipal Income Fund
Class A
Class C
Institutional
Service
Investor
Class T
Management Fees [1] 0.40% 0.40% 0.40% 0.40% 0.40% 0.40%
Distribution and/or Service (12b-1) Fees 0.25% 0.75% none 0.25% none 0.25%
Other Expenses [2] 0.18% 0.43% 0.09% 0.34% 0.18% 0.18%
Service Fees none 0.25% none none none none
Shareholder Administration Fees none none none 0.25% none none
All Other Expenses 0.18% 0.18% 0.09% 0.09% 0.18% 0.18%
Total Annual Fund Operating Expenses 0.83% 1.58% 0.49% 0.99% 0.58% 0.83%
Fee Waiver and Expense Limitation [3] (0.08%) (0.08%) (0.08%) (0.08%) (0.08%) (0.08%)
Total Annual Fund Operating Expenses [3],[4] 0.75% 1.50% 0.41% 0.91% 0.50% 0.75%
[1] The Fund's "Management Fees" have been restated to reflect current fees.
[2] The "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[3] The Investment Adviser has agreed to (i) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, shareholder administration fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.004% of the Fund's average daily net assets, and (ii) waive a portion of its management fee in order to achieve an effective net management fee rate of 0.37% as an annual percentage rate of average daily net assets of the Fund. These arrangements will remain in effect through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees. The Fund's "Total Annual Fund Operating Expenses After Fee Waiver and Expense Limitation" have been restated to reflect the fee waiver and expense limitation currently in effect.
[4] After Fee Waiver and Expense Limitation
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Service, Investor and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Service, Investor and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Assuming complete redemption at end of period
Expense Example - Goldman Sachs Dynamic Municipal Income Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A Shares 449 623 811 1,356
Class C Shares 253 491 853 1,873
Institutional Shares 42 149 267 610
Service Shares 93 308 540 1,207
Investor Shares 51 178 317 720
Class T Shares 325 501 692 1,244
Assuming no redemption
Expense Example, No Redemption
1 Year
3 Years
5 Years
10 Years
Goldman Sachs Dynamic Municipal Income Fund | Class C Shares | USD ($) 153 491 853 1,873
Portfolio Turnover
The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 28% of the average value of its portfolio.
Principal Strategy
The Fund invests, under normal market conditions, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in fixed income securities issued by or on behalf of states, territories and possessions of the United States (including the District of Columbia) and the political subdivisions, agencies and instrumentalities thereof (“Municipal Securities”), the interest on which is exempt from regular federal income tax (i.e., excluded from gross income for federal income tax purposes). The Fund may invest up to 100% of its Net Assets in private activity bonds, the interest on which (including the Fund’s distributions of such interest) may be a preference item for purposes of the federal alternative minimum tax. 100% of the Fund’s portfolio will be invested in U.S. dollar-denominated securities.

The Fund may invest up to 30% of its Net Assets in Municipal Securities that, at the time of purchase, are non-investment grade (commonly referred to as “junk bonds”). Non-investment grade securities are securities rated BB+, Ba1 or below by a nationally recognized statistical rating organization (“NRSRO”), or, if unrated, determined by the Investment Adviser to be of comparable credit quality. The Fund may purchase the securities of issuers that are in default.

The Fund may focus its investments in issuers within the same state or economic sector. The team uses a multi-faceted approach when evaluating whether to add or maintain exposure to any individual position. A top-down approach is used to assess broad macro trends while a bottom-up analysis is used to determine relative value between individual securities. Individual securities will be considered for purchase or sale based on credit profile, risk, structure, pricing, and portfolio impact, as well as duration management, restructuring, opportunistic trading and tax loss harvesting.

Under normal interest rate conditions, the Fund’s duration is expected to range between two and eight years. (Historically, over the last five years, the duration of the Bloomberg Barclays Municipal Bond 1-10 Year Blend Index has been between approximately 3.96 and 4.61 years). “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

The Fund’s benchmark index is the Bloomberg Barclays Municipal Bond 1-10 Year Blend Index.
Principal Risks of the Fund
Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.

Credit/Default Risk.  An issuer or guarantor of fixed income securities held by the Fund (which may have a low credit rating) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant net asset value (“NAV”) deterioration. These risks are more pronounced in connection with the Fund’s investments in non-investment grade fixed income securities.

Geographic and Sector Risk.  If the Fund invests a significant portion of its total assets in certain issuers within the same state, geographic region or economic sector, an adverse economic, business, political, environmental or other development affecting that state, region or sector may affect the value of the Fund’s investments more than if its investments were not so focused.

Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.

Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.

Liquidity Risk.  The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests, or other reasons. To meet redemption requests, the Fund may be forced to sell securities at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.

Market Risk.  The value of the securities in which the Fund invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/or general economic conditions throughout the world due to increasingly interconnected global economies and financial markets.

Municipal Securities Risk.  Municipal Securities are subject to credit/default risk, interest rate risk and certain additional risks. The Fund may be more sensitive to adverse economic, business or political developments if it invests a substantial portion of its assets in the bonds of similar projects (such as those relating to education, health care, housing, transportation, and utilities), industrial development bonds, or in particular types of municipal securities (such as general obligation bonds, private activity bonds and moral obligation bonds). Generally, municipalities continue to experience difficulties in the current economic and political environment.

Non-Investment Grade Fixed Income Securities Risk.  Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as “junk bonds”) are considered speculative and are subject to the increased risk of an issuer’s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity. The Fund may purchase the securities of issuers that are in default.

State/Territory Specific Risk.  The Fund’s investments in municipal obligations of issuers located in a particular state or U.S. territory may be adversely affected by political, economic, and regulatory developments within that state or U.S. territory. Such developments may affect the financial condition of a state’s or territory’s political subdivisions, agencies, instrumentalities and public authorities and heighten the risks associated with investing in bonds issued by such parties, which could, in turn, adversely affect the Fund’s income, NAV, liquidity, and/or ability to preserve or realize capital appreciation.

Tax Risk.  Any proposed or actual changes in income tax rates or the tax-exempt status of interest income from Municipal Securities can significantly affect the demand for and supply, liquidity and marketability of Municipal Securities. Such changes may affect the Fund’s net asset value and ability to acquire and dispose of Municipal Securities at desirable yield and price levels.
Performance
The bar chart and table on the following page provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Institutional Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Service, Investor and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
TOTAL RETURN CALENDAR YEAR (INSTITUTIONAL)
Bar Chart
The total return for Institutional Shares for the six-month period
ended June 30, 2017 was 3.74%.

Best Quarter
Q3 ‘09              +10.05%

Worst Quarter
Q4 ‘08              –5.89%
AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Average Annual Total Returns - Goldman Sachs Dynamic Municipal Income Fund
1 Year
5 Years
10 Years
Since Inception
Inception Date
Class A Shares (2.73%) 2.77% 3.27% 4.48% Jul. 20, 1993
Class A Shares | Returns After Taxes on Distributions (2.74%) 2.75% 3.25% 4.42% Jul. 20, 1993
Class A Shares | Returns After Taxes on Distributions and Sale of Fund Shares (0.17%) 2.94% 3.36% 4.39% Jul. 20, 1993
Class A Shares | Bloomberg Barclays Municipal Bond 1-10 Year Blend Index (reflects no deduction for fees, expenses or taxes) (0.10%) 2.03% 3.69% 4.44% Jul. 20, 1993
Class C Shares (0.70%) 2.78% 2.89% 3.59% Aug. 15, 1997
Class C Shares | Bloomberg Barclays Municipal Bond 1-10 Year Blend Index (reflects no deduction for fees, expenses or taxes) (0.10%) 2.03% 3.69% 4.19% Aug. 15, 1997
Institutional Shares 1.38% 3.90% 4.01% 4.74% Aug. 15, 1997
Institutional Shares | Bloomberg Barclays Municipal Bond 1-10 Year Blend Index (reflects no deduction for fees, expenses or taxes) (0.10%) 2.03% 3.69% 4.19% Aug. 15, 1997
Service Shares 0.83% 3.37% 3.46% 4.23% Aug. 15, 1997
Service Shares | Bloomberg Barclays Municipal Bond 1-10 Year Blend Index (reflects no deduction for fees, expenses or taxes) (0.10%) 2.03% 3.69% 4.19% Aug. 15, 1997
Investor Shares 1.30% 3.82% 4.25% Jul. 30, 2010
Investor Shares | Bloomberg Barclays Municipal Bond 1-10 Year Blend Index (reflects no deduction for fees, expenses or taxes) (0.10%) 2.03% 2.61% Jul. 30, 2010
Class T Shares [1] (2.73%) 2.77% 3.27% 4.48% Jul. 28, 2017
Class T Shares | Bloomberg Barclays Municipal Bond 1-10 Year Blend Index (reflects no deduction for fees, expenses or taxes) [1] (0.10%) 2.03% 3.69% 4.44% Jul. 28, 2017
[1] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

XML 16 R17.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName GOLDMAN SACHS TRUST
Prospectus Date rr_ProspectusDate Jul. 28, 2017
Goldman Sachs Dynamic Municipal Income Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Goldman Sachs Dynamic Municipal Income Fund—Summary
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Goldman Sachs Dynamic Municipal Income Fund (the “Fund”) seeks a high level of current income that is exempt from regular federal income tax.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 38 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 42 and in “Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts” on page 72 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees
(fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination July 28, 2018
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 28% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 28.00%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock A contingent deferred sales charge ("CDSC") of 1.00% is imposed on Class C Shares redeemed within 12 months of purchase.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 38 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 42 and in “Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts” on page 72 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates The "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent The Fund's "Management Fees" have been restated to reflect current fees.

The Fund's "Total Annual Fund Operating Expenses After Fee Waiver and Expense Limitation" have been restated to reflect the fee waiver and expense limitation currently in effect.
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Service, Investor and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Service, Investor and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption Assuming complete redemption at end of period
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption Assuming no redemption
Strategy [Heading] rr_StrategyHeading Principal Strategy
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund invests, under normal market conditions, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in fixed income securities issued by or on behalf of states, territories and possessions of the United States (including the District of Columbia) and the political subdivisions, agencies and instrumentalities thereof (“Municipal Securities”), the interest on which is exempt from regular federal income tax (i.e., excluded from gross income for federal income tax purposes). The Fund may invest up to 100% of its Net Assets in private activity bonds, the interest on which (including the Fund’s distributions of such interest) may be a preference item for purposes of the federal alternative minimum tax. 100% of the Fund’s portfolio will be invested in U.S. dollar-denominated securities.

The Fund may invest up to 30% of its Net Assets in Municipal Securities that, at the time of purchase, are non-investment grade (commonly referred to as “junk bonds”). Non-investment grade securities are securities rated BB+, Ba1 or below by a nationally recognized statistical rating organization (“NRSRO”), or, if unrated, determined by the Investment Adviser to be of comparable credit quality. The Fund may purchase the securities of issuers that are in default.

The Fund may focus its investments in issuers within the same state or economic sector. The team uses a multi-faceted approach when evaluating whether to add or maintain exposure to any individual position. A top-down approach is used to assess broad macro trends while a bottom-up analysis is used to determine relative value between individual securities. Individual securities will be considered for purchase or sale based on credit profile, risk, structure, pricing, and portfolio impact, as well as duration management, restructuring, opportunistic trading and tax loss harvesting.

Under normal interest rate conditions, the Fund’s duration is expected to range between two and eight years. (Historically, over the last five years, the duration of the Bloomberg Barclays Municipal Bond 1-10 Year Blend Index has been between approximately 3.96 and 4.61 years). “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

The Fund’s benchmark index is the Bloomberg Barclays Municipal Bond 1-10 Year Blend Index.
Risk [Heading] rr_RiskHeading Principal Risks of the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.

Credit/Default Risk.  An issuer or guarantor of fixed income securities held by the Fund (which may have a low credit rating) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant net asset value (“NAV”) deterioration. These risks are more pronounced in connection with the Fund’s investments in non-investment grade fixed income securities.

Geographic and Sector Risk.  If the Fund invests a significant portion of its total assets in certain issuers within the same state, geographic region or economic sector, an adverse economic, business, political, environmental or other development affecting that state, region or sector may affect the value of the Fund’s investments more than if its investments were not so focused.

Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.

Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.

Liquidity Risk.  The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests, or other reasons. To meet redemption requests, the Fund may be forced to sell securities at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.

Market Risk.  The value of the securities in which the Fund invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/or general economic conditions throughout the world due to increasingly interconnected global economies and financial markets.

Municipal Securities Risk.  Municipal Securities are subject to credit/default risk, interest rate risk and certain additional risks. The Fund may be more sensitive to adverse economic, business or political developments if it invests a substantial portion of its assets in the bonds of similar projects (such as those relating to education, health care, housing, transportation, and utilities), industrial development bonds, or in particular types of municipal securities (such as general obligation bonds, private activity bonds and moral obligation bonds). Generally, municipalities continue to experience difficulties in the current economic and political environment.

Non-Investment Grade Fixed Income Securities Risk.  Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as “junk bonds”) are considered speculative and are subject to the increased risk of an issuer’s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity. The Fund may purchase the securities of issuers that are in default.

State/Territory Specific Risk.  The Fund’s investments in municipal obligations of issuers located in a particular state or U.S. territory may be adversely affected by political, economic, and regulatory developments within that state or U.S. territory. Such developments may affect the financial condition of a state’s or territory’s political subdivisions, agencies, instrumentalities and public authorities and heighten the risks associated with investing in bonds issued by such parties, which could, in turn, adversely affect the Fund’s income, NAV, liquidity, and/or ability to preserve or realize capital appreciation.

Tax Risk.  Any proposed or actual changes in income tax rates or the tax-exempt status of interest income from Municipal Securities can significantly affect the demand for and supply, liquidity and marketability of Municipal Securities. Such changes may affect the Fund’s net asset value and ability to acquire and dispose of Municipal Securities at desirable yield and price levels.
Risk Lose Money [Text] rr_RiskLoseMoney Loss of money is a risk of investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation ("FDIC") or any government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and table on the following page provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Institutional Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Service, Investor and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and table on the following page provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Institutional Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Service, Investor and Class T Shares compare to those of a broad-based securities market index.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess As of the date of the Prospectus, Class T Shares have not commenced operations.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.gsamfunds.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading TOTAL RETURN CALENDAR YEAR (INSTITUTIONAL)
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The total return for Institutional Shares for the six-month period
ended June 30, 2017 was 3.74%.

Best Quarter
Q3 ‘09              +10.05%

Worst Quarter
Q4 ‘08              –5.89%
Performance Table Heading rr_PerformanceTableHeading AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Performance Table Does Reflect Sales Loads rr_PerformanceTableDoesReflectSalesLoads Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Goldman Sachs Dynamic Municipal Income Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 3.75%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.40% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.18%
Other Expenses rr_OtherExpensesOverAssets 0.18% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.83%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.08%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.75% [4],[5]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 100,000
1 Year rr_ExpenseExampleYear01 449
3 Years rr_ExpenseExampleYear03 623
5 Years rr_ExpenseExampleYear05 811
10 Years rr_ExpenseExampleYear10 $ 1,356
1 Year rr_AverageAnnualReturnYear01 (2.73%)
5 Years rr_AverageAnnualReturnYear05 2.77%
10 Years rr_AverageAnnualReturnYear10 3.27%
Since Inception rr_AverageAnnualReturnSinceInception 4.48%
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 20, 1993
Goldman Sachs Dynamic Municipal Income Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Management Fees rr_ManagementFeesOverAssets 0.40% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.18%
Other Expenses rr_OtherExpensesOverAssets 0.43% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.58%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.08%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.50% [4],[5]
1 Year rr_ExpenseExampleYear01 $ 253
3 Years rr_ExpenseExampleYear03 491
5 Years rr_ExpenseExampleYear05 853
10 Years rr_ExpenseExampleYear10 1,873
1 Year rr_ExpenseExampleNoRedemptionYear01 153
3 Years rr_ExpenseExampleNoRedemptionYear03 491
5 Years rr_ExpenseExampleNoRedemptionYear05 853
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,873
1 Year rr_AverageAnnualReturnYear01 (0.70%)
5 Years rr_AverageAnnualReturnYear05 2.78%
10 Years rr_AverageAnnualReturnYear10 2.89%
Since Inception rr_AverageAnnualReturnSinceInception 3.59%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 15, 1997
Goldman Sachs Dynamic Municipal Income Fund | Institutional  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.40% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.09%
Other Expenses rr_OtherExpensesOverAssets 0.09% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.49%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.08%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.41% [4],[5]
1 Year rr_ExpenseExampleYear01 $ 42
3 Years rr_ExpenseExampleYear03 149
5 Years rr_ExpenseExampleYear05 267
10 Years rr_ExpenseExampleYear10 $ 610
2007 rr_AnnualReturn2007 (0.30%)
2008 rr_AnnualReturn2008 (10.68%)
2009 rr_AnnualReturn2009 20.13%
2010 rr_AnnualReturn2010 2.81%
2011 rr_AnnualReturn2011 11.25%
2012 rr_AnnualReturn2012 10.31%
2013 rr_AnnualReturn2013 (3.98%)
2014 rr_AnnualReturn2014 10.53%
2015 rr_AnnualReturn2015 2.01%
2016 rr_AnnualReturn2016 1.38%
Year to Date Return, Label rr_YearToDateReturnLabel total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 3.74%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 10.05%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (5.89%)
1 Year rr_AverageAnnualReturnYear01 1.38%
5 Years rr_AverageAnnualReturnYear05 3.90%
10 Years rr_AverageAnnualReturnYear10 4.01%
Since Inception rr_AverageAnnualReturnSinceInception 4.74%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 15, 1997
Goldman Sachs Dynamic Municipal Income Fund | Service  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.40% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets 0.25%
All Other Expenses rr_Component3OtherExpensesOverAssets 0.09%
Other Expenses rr_OtherExpensesOverAssets 0.34% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.99%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.08%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.91% [4],[5]
1 Year rr_ExpenseExampleYear01 $ 93
3 Years rr_ExpenseExampleYear03 308
5 Years rr_ExpenseExampleYear05 540
10 Years rr_ExpenseExampleYear10 $ 1,207
1 Year rr_AverageAnnualReturnYear01 0.83%
5 Years rr_AverageAnnualReturnYear05 3.37%
10 Years rr_AverageAnnualReturnYear10 3.46%
Since Inception rr_AverageAnnualReturnSinceInception 4.23%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 15, 1997
Goldman Sachs Dynamic Municipal Income Fund | Investor  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.40% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.18%
Other Expenses rr_OtherExpensesOverAssets 0.18% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.58%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.08%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.50% [4],[5]
1 Year rr_ExpenseExampleYear01 $ 51
3 Years rr_ExpenseExampleYear03 178
5 Years rr_ExpenseExampleYear05 317
10 Years rr_ExpenseExampleYear10 $ 720
1 Year rr_AverageAnnualReturnYear01 1.30%
5 Years rr_AverageAnnualReturnYear05 3.82%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 4.25%
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 30, 2010
Goldman Sachs Dynamic Municipal Income Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.40% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.18%
Other Expenses rr_OtherExpensesOverAssets 0.18% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.83%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.08%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.75% [4],[5]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
1 Year rr_ExpenseExampleYear01 325
3 Years rr_ExpenseExampleYear03 501
5 Years rr_ExpenseExampleYear05 692
10 Years rr_ExpenseExampleYear10 $ 1,244
1 Year rr_AverageAnnualReturnYear01 (2.73%) [6]
5 Years rr_AverageAnnualReturnYear05 2.77% [6]
10 Years rr_AverageAnnualReturnYear10 3.27% [6]
Since Inception rr_AverageAnnualReturnSinceInception 4.48% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [6]
Goldman Sachs Dynamic Municipal Income Fund | Returns After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (2.74%)
5 Years rr_AverageAnnualReturnYear05 2.75%
10 Years rr_AverageAnnualReturnYear10 3.25%
Since Inception rr_AverageAnnualReturnSinceInception 4.42%
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 20, 1993
Goldman Sachs Dynamic Municipal Income Fund | Returns After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (0.17%)
5 Years rr_AverageAnnualReturnYear05 2.94%
10 Years rr_AverageAnnualReturnYear10 3.36%
Since Inception rr_AverageAnnualReturnSinceInception 4.39%
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 20, 1993
Goldman Sachs Dynamic Municipal Income Fund | Bloomberg Barclays Municipal Bond 1-10 Year Blend Index (reflects no deduction for fees, expenses or taxes) | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (0.10%)
5 Years rr_AverageAnnualReturnYear05 2.03%
10 Years rr_AverageAnnualReturnYear10 3.69%
Since Inception rr_AverageAnnualReturnSinceInception 4.44%
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 20, 1993
Goldman Sachs Dynamic Municipal Income Fund | Bloomberg Barclays Municipal Bond 1-10 Year Blend Index (reflects no deduction for fees, expenses or taxes) | Class C  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (0.10%)
5 Years rr_AverageAnnualReturnYear05 2.03%
10 Years rr_AverageAnnualReturnYear10 3.69%
Since Inception rr_AverageAnnualReturnSinceInception 4.19%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 15, 1997
Goldman Sachs Dynamic Municipal Income Fund | Bloomberg Barclays Municipal Bond 1-10 Year Blend Index (reflects no deduction for fees, expenses or taxes) | Institutional  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (0.10%)
5 Years rr_AverageAnnualReturnYear05 2.03%
10 Years rr_AverageAnnualReturnYear10 3.69%
Since Inception rr_AverageAnnualReturnSinceInception 4.19%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 15, 1997
Goldman Sachs Dynamic Municipal Income Fund | Bloomberg Barclays Municipal Bond 1-10 Year Blend Index (reflects no deduction for fees, expenses or taxes) | Service  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (0.10%)
5 Years rr_AverageAnnualReturnYear05 2.03%
10 Years rr_AverageAnnualReturnYear10 3.69%
Since Inception rr_AverageAnnualReturnSinceInception 4.19%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 15, 1997
Goldman Sachs Dynamic Municipal Income Fund | Bloomberg Barclays Municipal Bond 1-10 Year Blend Index (reflects no deduction for fees, expenses or taxes) | Investor  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (0.10%)
5 Years rr_AverageAnnualReturnYear05 2.03%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 2.61%
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 30, 2010
Goldman Sachs Dynamic Municipal Income Fund | Bloomberg Barclays Municipal Bond 1-10 Year Blend Index (reflects no deduction for fees, expenses or taxes) | Class T  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (0.10%) [6]
5 Years rr_AverageAnnualReturnYear05 2.03% [6]
10 Years rr_AverageAnnualReturnYear10 3.69% [6]
Since Inception rr_AverageAnnualReturnSinceInception 4.44% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [6]
[1] A contingent deferred sales charge ("CDSC") of 1.00% is imposed on Class C Shares redeemed within 12 months of purchase.
[2] The Fund's "Management Fees" have been restated to reflect current fees.
[3] The "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[4] The Investment Adviser has agreed to (i) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, shareholder administration fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.004% of the Fund's average daily net assets, and (ii) waive a portion of its management fee in order to achieve an effective net management fee rate of 0.37% as an annual percentage rate of average daily net assets of the Fund. These arrangements will remain in effect through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees. The Fund's "Total Annual Fund Operating Expenses After Fee Waiver and Expense Limitation" have been restated to reflect the fee waiver and expense limitation currently in effect.
[5] After Fee Waiver and Expense Limitation
[6] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
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Goldman Sachs Short Duration Tax-Free Fund
Goldman Sachs Short Duration Tax-Free Fund—Summary
Investment Objective
The Goldman Sachs Short Duration Tax-Free Fund (the “Fund”) seeks a high level of current income, consistent with relatively low volatility of principal, that is exempt from regular federal income tax.
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $500,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 38 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 42 and in “Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts” on page 72 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees
(fees paid directly from your investment)
Shareholder Fees - Goldman Sachs Short Duration Tax-Free Fund
Class A
Class C
Institutional
Service
Investor
Class T
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 1.50% none none none none 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) [1] none 0.65% none none none none
[1] A contingent deferred sales charge ("CDSC") of 0.65% is imposed on Class C Shares redeemed within 12 months of purchase.
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses - Goldman Sachs Short Duration Tax-Free Fund
Class A
Class C
Institutional
Service
Investor
Class T
Management Fees [1] 0.35% 0.35% 0.35% 0.35% 0.35% 0.35%
Distribution and/or Service (12b-1) Fees 0.25% 0.75% none 0.25% none 0.25%
Other Expenses [2] 0.15% 0.40% 0.06% 0.31% 0.15% 0.15%
Service Fees none 0.25% none none none none
Shareholder Administration Fees none none none 0.25% none none
All Other Expenses 0.15% 0.15% 0.06% 0.06% 0.15% 0.15%
Total Annual Fund Operating Expenses 0.75% 1.50% 0.41% 0.91% 0.50% 0.75%
Fee Waiver and Expense Limitation [3] (0.06%) (0.41%) (0.02%) (0.02%) (0.06%) (0.06%)
Total Annual Fund Operating Expenses [3],[4] 0.69% 1.09% 0.39% 0.89% 0.44% 0.69%
[1] The Fund's "Management Fees" have been restated to reflect current fees.
[2] The "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[3] The Investment Adviser has agreed to reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, taxes, interest, service fees, shareholder administration fees, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.004% of the Fund's average daily net assets. This arrangement will remain in effect through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees. In addition, Goldman Sachs & Co. LLC ("Goldman Sachs") has agreed to waive a portion of the distribution (12b-1) and/or service fees equal to 0.35% of the average daily net assets attributable to Class C Shares of the Fund. Additionally, Goldman Sachs, the Fund's transfer agent, has agreed to waive a portion of its transfer agency fee (a component of "Other Expenses") equal to 0.04% as an annual percentage rate of the average daily net assets attributable to Class A, Class C, Investor and Class T Shares of the Fund. These arrangements will remain in effect through at least July 28, 2018, and prior to such date Goldman Sachs may not terminate the arrangements without the approval of the Board of Trustees. The Fund's "Total Annual Fund Operating Expenses After Fee Waiver and Expense Limitation" have been restated to reflect the fee waiver and expense limitation currently in effect.
[4] After Fee Waivers and Expense Limitation
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Service, Investor and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Service, Investor and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Assuming complete redemption at end of period
Expense Example - Goldman Sachs Short Duration Tax-Free Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A Shares 219 380 555 1,061
Class C Shares 176 434 780 1,755
Institutional Shares 40 130 228 516
Service Shares 91 288 502 1,118
Investor Shares 45 154 274 622
Class T Shares 319 478 651 1,152
Assuming no redemption
Expense Example, No Redemption
1 Year
3 Years
5 Years
10 Years
Goldman Sachs Short Duration Tax-Free Fund | Class C Shares | USD ($) 111 434 780 1,755
Portfolio Turnover
The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 40% of the average value of its portfolio.
Principal Strategy
The Fund invests, under normal market conditions, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in fixed income securities issued by or on behalf of states, territories and possessions of the United States (including the District of Columbia) and the political subdivisions, agencies and instrumentalities thereof (“Municipal Securities”), the interest on which is exempt from regular federal income tax (i.e., excluded from gross income for federal income tax purposes), and is not a tax preference item under the federal alternative minimum tax. Under normal market conditions, the Fund’s investments in private activity bonds and taxable investments will not exceed, in the aggregate, 20% of the Fund’s Net Assets. The interest from private activity bonds (including the Fund’s distributions of such interest) may be a preference item for purposes of the federal alternative minimum tax. 100% of the Fund’s portfolio will be invested in U.S. dollar-denominated securities.

The team uses a multi-faceted approach when evaluating whether to add or maintain exposure to any individual position. A top-down approach is used to assess broad macro trends while a bottom-up analysis is used to determine relative value between individual securities. Individual securities will be considered for purchase or sale based on credit profile, risk, structure, pricing, and portfolio impact, as well as duration management, restructuring, opportunistic trading and tax loss harvesting.

Under normal interest rate conditions, the Fund’s duration is expected to approximate that of the Bloomberg Barclays Municipal Bond 1-3 Year Blend Index, plus or minus 0.5 years. (Historically, over the last five years, the duration of the Bloomberg Barclays Municipal Bond 1-3 Year Blend Index has ranged between 2.03 and 2.26 years). The reference to “Short Duration” in the Fund’s name refers to this duration. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

The Fund’s benchmark index is the Bloomberg Barclays Municipal Bond 1-3 Year Blend Index.
Principal Risks of the Fund
Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.

Credit/Default Risk.  An issuer or guarantor of fixed income securities held by the Fund may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant net asset value (“NAV”) deterioration. These risks are more pronounced in connection with the Fund’s investments in non-investment grade fixed income securities.

Geographic and Sector Risk.  If the Fund invests a significant portion of its total assets in certain issuers within the same state, geographic region or economic sector, an adverse economic, business, political, environmental or other development affecting that state, region or sector may affect the value of the Fund’s investments more than if its investments were not so focused.

Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.

Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.

Liquidity Risk.  The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests, or other reasons. To meet redemption requests, the Fund may be forced to sell securities at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.

Market Risk.  The value of the securities in which the Fund invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/or general economic conditions throughout the world due to increasingly interconnected global economies and financial markets.

Municipal Securities Risk.  Municipal Securities are subject to credit/default risk, interest rate risk and certain additional risks. The Fund may be more sensitive to adverse economic, business or political developments if it invests a substantial portion of its assets in the bonds of similar projects (such as those relating to education, health care, housing, transportation, and utilities), industrial development bonds, or in particular types of municipal securities (such as general obligation bonds, private activity bonds and moral obligation bonds). Generally, municipalities continue to experience difficulties in the current economic and political environment.

State/Territory Specific Risk.  The Fund’s investments in municipal obligations of issuers located in a particular state or U.S. territory may be adversely affected by political, economic and regulatory developments within that state or U.S. territory. Such developments may affect the financial condition of a state’s or territory’s political subdivisions, agencies, instrumentalities and public authorities and heighten the risks associated with investing in bonds issued by such parties, which could, in turn, adversely affect the Fund’s income, NAV, liquidity, and/or ability to preserve or realize capital appreciation.

Tax Risk.  Any proposed or actual changes in income tax rates or the tax-exempt status of interest income from Municipal Securities can significantly affect the demand for and supply, liquidity and marketability of Municipal Securities. Such changes may affect the Fund’s net asset value and ability to acquire and dispose of Municipal Securities at desirable yield and price levels.
Performance
The bar chart and table on the following page provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Institutional Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Service, Investor and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
TOTAL RETURN CALENDAR YEAR (INSTITUTIONAL)
Bar Chart
The total return for Institutional Shares for the six-month period
ended June 30, 2017 was 1.57%.

Best Quarter
Q1 ‘09              +2.27%

Worst Quarter
Q4 ‘16              –1.27%
AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Average Annual Total Returns - Goldman Sachs Short Duration Tax-Free Fund
1 Year
5 Years
10 Years
Since Inception
Inception Date
Class A Shares (1.56%) 0.38% 1.80% 2.54% May 01, 1997
Class A Shares | Returns After Taxes on Distributions (1.56%) 0.37% 1.79% 2.53% May 01, 1997
Class A Shares | Returns After Taxes on Distributions and Sale of Fund Shares (0.47%) 0.51% 1.77% 2.50% May 01, 1997
Class A Shares | Bloomberg Barclays Municipal Bond 1-3 Year Blend Index (reflects no deduction for fees, expenses or taxes) 0.18% 0.94% 2.40% 3.12% May 01, 1997
Class C Shares (1.11%) 0.28% 1.41% 1.89% Aug. 15, 1997
Class C Shares | Bloomberg Barclays Municipal Bond 1-3 Year Blend Index (reflects no deduction for fees, expenses or taxes) 0.18% 0.94% 2.40% 3.06% [1] Aug. 15, 1997
Institutional Shares 0.25% 1.02% 2.31% 3.21% Oct. 01, 1992
Institutional Shares | Bloomberg Barclays Municipal Bond 1-3 Year Blend Index (reflects no deduction for fees, expenses or taxes) 0.18% 0.94% 2.40% Oct. 01, 1992
Service Shares (0.34%) 0.50% 1.79% 2.66% Sep. 20, 1994
Service Shares | Bloomberg Barclays Municipal Bond 1-3 Year Blend Index (reflects no deduction for fees, expenses or taxes) 0.18% 0.94% 2.40% 3.37% [2] Sep. 20, 1994
Investor Shares 0.18% 0.93% 1.21% Jul. 30, 2010
Investor Shares | Bloomberg Barclays Municipal Bond 1-3 Year Blend Index (reflects no deduction for fees, expenses or taxes) 0.18% 0.94% 1.11% Jul. 30, 2010
Class T Shares [3] (2.56%) 0.17% 1.70% 2.49% Jul. 28, 2017
Class T Shares | Bloomberg Barclays Municipal Bond 1-3 Year Blend Index (reflects no deduction for fees, expenses or taxes) [3] 0.18% 0.94% 2.40% 3.12% Jul. 28, 2017
[1] Return for the Index is calculated from September 1, 1997, the commencement of the month nearest to the Class C Shares inception date.
[2] Return for the Index is calculated from October 1, 1994, the commencement of the month nearest to the Service Shares inception date.
[3] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has been adjusted to reflect the higher maximum sales charge (load) imposed on purchases of Class T Shares. Class A Shares had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class A Shares impose a lower maximum sales charge (load) on purchases.
The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 19 R25.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName GOLDMAN SACHS TRUST
Prospectus Date rr_ProspectusDate Jul. 28, 2017
Goldman Sachs Short Duration Tax-Free Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Goldman Sachs Short Duration Tax-Free Fund—Summary
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Goldman Sachs Short Duration Tax-Free Fund (the “Fund”) seeks a high level of current income, consistent with relatively low volatility of principal, that is exempt from regular federal income tax.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $500,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 38 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 42 and in “Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts” on page 72 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees
(fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination July 28, 2018
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 40% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 40.00%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock A contingent deferred sales charge ("CDSC") of 0.65% is imposed on Class C Shares redeemed within 12 months of purchase.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $500,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 38 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 42 and in “Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts” on page 72 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates The "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent The Fund's "Management Fees" have been restated to reflect current fees.

The Fund's "Total Annual Fund Operating Expenses After Fee Waiver and Expense Limitation" have been restated to reflect the fee waiver and expense limitation currently in effect.
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Service, Investor and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Service, Investor and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption Assuming complete redemption at end of period
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption Assuming no redemption
Strategy [Heading] rr_StrategyHeading Principal Strategy
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund invests, under normal market conditions, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in fixed income securities issued by or on behalf of states, territories and possessions of the United States (including the District of Columbia) and the political subdivisions, agencies and instrumentalities thereof (“Municipal Securities”), the interest on which is exempt from regular federal income tax (i.e., excluded from gross income for federal income tax purposes), and is not a tax preference item under the federal alternative minimum tax. Under normal market conditions, the Fund’s investments in private activity bonds and taxable investments will not exceed, in the aggregate, 20% of the Fund’s Net Assets. The interest from private activity bonds (including the Fund’s distributions of such interest) may be a preference item for purposes of the federal alternative minimum tax. 100% of the Fund’s portfolio will be invested in U.S. dollar-denominated securities.

The team uses a multi-faceted approach when evaluating whether to add or maintain exposure to any individual position. A top-down approach is used to assess broad macro trends while a bottom-up analysis is used to determine relative value between individual securities. Individual securities will be considered for purchase or sale based on credit profile, risk, structure, pricing, and portfolio impact, as well as duration management, restructuring, opportunistic trading and tax loss harvesting.

Under normal interest rate conditions, the Fund’s duration is expected to approximate that of the Bloomberg Barclays Municipal Bond 1-3 Year Blend Index, plus or minus 0.5 years. (Historically, over the last five years, the duration of the Bloomberg Barclays Municipal Bond 1-3 Year Blend Index has ranged between 2.03 and 2.26 years). The reference to “Short Duration” in the Fund’s name refers to this duration. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

The Fund’s benchmark index is the Bloomberg Barclays Municipal Bond 1-3 Year Blend Index.
Risk [Heading] rr_RiskHeading Principal Risks of the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.

Credit/Default Risk.  An issuer or guarantor of fixed income securities held by the Fund may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant net asset value (“NAV”) deterioration. These risks are more pronounced in connection with the Fund’s investments in non-investment grade fixed income securities.

Geographic and Sector Risk.  If the Fund invests a significant portion of its total assets in certain issuers within the same state, geographic region or economic sector, an adverse economic, business, political, environmental or other development affecting that state, region or sector may affect the value of the Fund’s investments more than if its investments were not so focused.

Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.

Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.

Liquidity Risk.  The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests, or other reasons. To meet redemption requests, the Fund may be forced to sell securities at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.

Market Risk.  The value of the securities in which the Fund invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/or general economic conditions throughout the world due to increasingly interconnected global economies and financial markets.

Municipal Securities Risk.  Municipal Securities are subject to credit/default risk, interest rate risk and certain additional risks. The Fund may be more sensitive to adverse economic, business or political developments if it invests a substantial portion of its assets in the bonds of similar projects (such as those relating to education, health care, housing, transportation, and utilities), industrial development bonds, or in particular types of municipal securities (such as general obligation bonds, private activity bonds and moral obligation bonds). Generally, municipalities continue to experience difficulties in the current economic and political environment.

State/Territory Specific Risk.  The Fund’s investments in municipal obligations of issuers located in a particular state or U.S. territory may be adversely affected by political, economic and regulatory developments within that state or U.S. territory. Such developments may affect the financial condition of a state’s or territory’s political subdivisions, agencies, instrumentalities and public authorities and heighten the risks associated with investing in bonds issued by such parties, which could, in turn, adversely affect the Fund’s income, NAV, liquidity, and/or ability to preserve or realize capital appreciation.

Tax Risk.  Any proposed or actual changes in income tax rates or the tax-exempt status of interest income from Municipal Securities can significantly affect the demand for and supply, liquidity and marketability of Municipal Securities. Such changes may affect the Fund’s net asset value and ability to acquire and dispose of Municipal Securities at desirable yield and price levels.
Risk Lose Money [Text] rr_RiskLoseMoney Loss of money is a risk of investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and table on the following page provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Institutional Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Service, Investor and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and table on the following page provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Institutional Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Service, Investor and Class T Shares compare to those of a broad-based securities market index.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess As of the date of the Prospectus, Class T Shares have not commenced operations.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.gsamfunds.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading TOTAL RETURN CALENDAR YEAR (INSTITUTIONAL)
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The total return for Institutional Shares for the six-month period
ended June 30, 2017 was 1.57%.

Best Quarter
Q1 ‘09              +2.27%

Worst Quarter
Q4 ‘16              –1.27%
Performance Table Heading rr_PerformanceTableHeading AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Performance Table Does Reflect Sales Loads rr_PerformanceTableDoesReflectSalesLoads Performance has been adjusted to reflect the higher maximum sales charge (load) imposed on purchases of Class T Shares. Class A Shares had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class A Shares impose a lower maximum sales charge (load) on purchases.
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Goldman Sachs Short Duration Tax-Free Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 1.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.35% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.15%
Other Expenses rr_OtherExpensesOverAssets 0.15% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.75%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.06%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.69% [4],[5]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 500,000
1 Year rr_ExpenseExampleYear01 219
3 Years rr_ExpenseExampleYear03 380
5 Years rr_ExpenseExampleYear05 555
10 Years rr_ExpenseExampleYear10 $ 1,061
1 Year rr_AverageAnnualReturnYear01 (1.56%)
5 Years rr_AverageAnnualReturnYear05 0.38%
10 Years rr_AverageAnnualReturnYear10 1.80%
Since Inception rr_AverageAnnualReturnSinceInception 2.54%
Inception Date rr_AverageAnnualReturnInceptionDate May 01, 1997
Goldman Sachs Short Duration Tax-Free Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther 0.65% [1]
Management Fees rr_ManagementFeesOverAssets 0.35% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.15%
Other Expenses rr_OtherExpensesOverAssets 0.40% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.50%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.41%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.09% [4],[5]
1 Year rr_ExpenseExampleYear01 $ 176
3 Years rr_ExpenseExampleYear03 434
5 Years rr_ExpenseExampleYear05 780
10 Years rr_ExpenseExampleYear10 1,755
1 Year rr_ExpenseExampleNoRedemptionYear01 111
3 Years rr_ExpenseExampleNoRedemptionYear03 434
5 Years rr_ExpenseExampleNoRedemptionYear05 780
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,755
1 Year rr_AverageAnnualReturnYear01 (1.11%)
5 Years rr_AverageAnnualReturnYear05 0.28%
10 Years rr_AverageAnnualReturnYear10 1.41%
Since Inception rr_AverageAnnualReturnSinceInception 1.89%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 15, 1997
Goldman Sachs Short Duration Tax-Free Fund | Institutional  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.35% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.06%
Other Expenses rr_OtherExpensesOverAssets 0.06% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.41%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.02%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.39% [4],[5]
1 Year rr_ExpenseExampleYear01 $ 40
3 Years rr_ExpenseExampleYear03 130
5 Years rr_ExpenseExampleYear05 228
10 Years rr_ExpenseExampleYear10 $ 516
2007 rr_AnnualReturn2007 3.75%
2008 rr_AnnualReturn2008 2.67%
2009 rr_AnnualReturn2009 6.19%
2010 rr_AnnualReturn2010 1.91%
2011 rr_AnnualReturn2011 3.60%
2012 rr_AnnualReturn2012 2.17%
2013 rr_AnnualReturn2013 0.13%
2014 rr_AnnualReturn2014 1.84%
2015 rr_AnnualReturn2015 0.73%
2016 rr_AnnualReturn2016 0.25%
Year to Date Return, Label rr_YearToDateReturnLabel total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 1.57%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 2.27%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2016
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (1.27%)
1 Year rr_AverageAnnualReturnYear01 0.25%
5 Years rr_AverageAnnualReturnYear05 1.02%
10 Years rr_AverageAnnualReturnYear10 2.31%
Since Inception rr_AverageAnnualReturnSinceInception 3.21%
Inception Date rr_AverageAnnualReturnInceptionDate Oct. 01, 1992
Goldman Sachs Short Duration Tax-Free Fund | Service  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.35% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets 0.25%
All Other Expenses rr_Component3OtherExpensesOverAssets 0.06%
Other Expenses rr_OtherExpensesOverAssets 0.31% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.91%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.02%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.89% [4],[5]
1 Year rr_ExpenseExampleYear01 $ 91
3 Years rr_ExpenseExampleYear03 288
5 Years rr_ExpenseExampleYear05 502
10 Years rr_ExpenseExampleYear10 $ 1,118
1 Year rr_AverageAnnualReturnYear01 (0.34%)
5 Years rr_AverageAnnualReturnYear05 0.50%
10 Years rr_AverageAnnualReturnYear10 1.79%
Since Inception rr_AverageAnnualReturnSinceInception 2.66%
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 20, 1994
Goldman Sachs Short Duration Tax-Free Fund | Investor  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.35% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.15%
Other Expenses rr_OtherExpensesOverAssets 0.15% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.50%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.06%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.44% [4],[5]
1 Year rr_ExpenseExampleYear01 $ 45
3 Years rr_ExpenseExampleYear03 154
5 Years rr_ExpenseExampleYear05 274
10 Years rr_ExpenseExampleYear10 $ 622
1 Year rr_AverageAnnualReturnYear01 0.18%
5 Years rr_AverageAnnualReturnYear05 0.93%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 1.21%
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 30, 2010
Goldman Sachs Short Duration Tax-Free Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.35% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.15%
Other Expenses rr_OtherExpensesOverAssets 0.15% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.75%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.06%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.69% [4],[5]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
1 Year rr_ExpenseExampleYear01 319
3 Years rr_ExpenseExampleYear03 478
5 Years rr_ExpenseExampleYear05 651
10 Years rr_ExpenseExampleYear10 $ 1,152
1 Year rr_AverageAnnualReturnYear01 (2.56%) [6]
5 Years rr_AverageAnnualReturnYear05 0.17% [6]
10 Years rr_AverageAnnualReturnYear10 1.70% [6]
Since Inception rr_AverageAnnualReturnSinceInception 2.49% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [6]
Goldman Sachs Short Duration Tax-Free Fund | Returns After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (1.56%)
5 Years rr_AverageAnnualReturnYear05 0.37%
10 Years rr_AverageAnnualReturnYear10 1.79%
Since Inception rr_AverageAnnualReturnSinceInception 2.53%
Inception Date rr_AverageAnnualReturnInceptionDate May 01, 1997
Goldman Sachs Short Duration Tax-Free Fund | Returns After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (0.47%)
5 Years rr_AverageAnnualReturnYear05 0.51%
10 Years rr_AverageAnnualReturnYear10 1.77%
Since Inception rr_AverageAnnualReturnSinceInception 2.50%
Inception Date rr_AverageAnnualReturnInceptionDate May 01, 1997
Goldman Sachs Short Duration Tax-Free Fund | Bloomberg Barclays Municipal Bond 1-3 Year Blend Index (reflects no deduction for fees, expenses or taxes) | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.18%
5 Years rr_AverageAnnualReturnYear05 0.94%
10 Years rr_AverageAnnualReturnYear10 2.40%
Since Inception rr_AverageAnnualReturnSinceInception 3.12%
Inception Date rr_AverageAnnualReturnInceptionDate May 01, 1997
Goldman Sachs Short Duration Tax-Free Fund | Bloomberg Barclays Municipal Bond 1-3 Year Blend Index (reflects no deduction for fees, expenses or taxes) | Class C  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.18%
5 Years rr_AverageAnnualReturnYear05 0.94%
10 Years rr_AverageAnnualReturnYear10 2.40%
Since Inception rr_AverageAnnualReturnSinceInception 3.06% [7]
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 15, 1997
Goldman Sachs Short Duration Tax-Free Fund | Bloomberg Barclays Municipal Bond 1-3 Year Blend Index (reflects no deduction for fees, expenses or taxes) | Institutional  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.18%
5 Years rr_AverageAnnualReturnYear05 0.94%
10 Years rr_AverageAnnualReturnYear10 2.40%
Since Inception rr_AverageAnnualReturnSinceInception
Inception Date rr_AverageAnnualReturnInceptionDate Oct. 01, 1992
Goldman Sachs Short Duration Tax-Free Fund | Bloomberg Barclays Municipal Bond 1-3 Year Blend Index (reflects no deduction for fees, expenses or taxes) | Service  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.18%
5 Years rr_AverageAnnualReturnYear05 0.94%
10 Years rr_AverageAnnualReturnYear10 2.40%
Since Inception rr_AverageAnnualReturnSinceInception 3.37% [8]
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 20, 1994
Goldman Sachs Short Duration Tax-Free Fund | Bloomberg Barclays Municipal Bond 1-3 Year Blend Index (reflects no deduction for fees, expenses or taxes) | Investor  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.18%
5 Years rr_AverageAnnualReturnYear05 0.94%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 1.11%
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 30, 2010
Goldman Sachs Short Duration Tax-Free Fund | Bloomberg Barclays Municipal Bond 1-3 Year Blend Index (reflects no deduction for fees, expenses or taxes) | Class T  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.18% [6]
5 Years rr_AverageAnnualReturnYear05 0.94% [6]
10 Years rr_AverageAnnualReturnYear10 2.40% [6]
Since Inception rr_AverageAnnualReturnSinceInception 3.12% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [6]
[1] A contingent deferred sales charge ("CDSC") of 0.65% is imposed on Class C Shares redeemed within 12 months of purchase.
[2] The Fund's "Management Fees" have been restated to reflect current fees.
[3] The "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[4] The Investment Adviser has agreed to reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, taxes, interest, service fees, shareholder administration fees, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.004% of the Fund's average daily net assets. This arrangement will remain in effect through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees. In addition, Goldman Sachs & Co. LLC ("Goldman Sachs") has agreed to waive a portion of the distribution (12b-1) and/or service fees equal to 0.35% of the average daily net assets attributable to Class C Shares of the Fund. Additionally, Goldman Sachs, the Fund's transfer agent, has agreed to waive a portion of its transfer agency fee (a component of "Other Expenses") equal to 0.04% as an annual percentage rate of the average daily net assets attributable to Class A, Class C, Investor and Class T Shares of the Fund. These arrangements will remain in effect through at least July 28, 2018, and prior to such date Goldman Sachs may not terminate the arrangements without the approval of the Board of Trustees. The Fund's "Total Annual Fund Operating Expenses After Fee Waiver and Expense Limitation" have been restated to reflect the fee waiver and expense limitation currently in effect.
[5] After Fee Waivers and Expense Limitation
[6] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has been adjusted to reflect the higher maximum sales charge (load) imposed on purchases of Class T Shares. Class A Shares had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class A Shares impose a lower maximum sales charge (load) on purchases.
[7] Return for the Index is calculated from September 1, 1997, the commencement of the month nearest to the Class C Shares inception date.
[8] Return for the Index is calculated from October 1, 1994, the commencement of the month nearest to the Service Shares inception date.
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GOLDMAN SACHS DYNAMIC EMERGING MARKETS DEBT FUND
Goldman Sachs Dynamic Emerging Markets Debt Fund—Summary
Investment Objective
The Goldman Sachs Dynamic Emerging Markets Debt Fund (the “Fund”) seeks a high level of total return consisting of income and capital appreciation.
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 71 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 75 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees
(fees paid directly from your investment)
Shareholder Fees - GOLDMAN SACHS DYNAMIC EMERGING MARKETS DEBT FUND
Class A
Class C
Institutional
Investor
Class R
Class T
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 4.50% none none none none 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sales proceeds) [1] none 1.00% none none none none
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 30 calendar days or less) 2.00% 2.00% 2.00% 2.00% 2.00% 2.00%
[1] A contingent deferred sales charge ("CDSC") of 1.00% is imposed on Class C Shares redeemed within 12 months of purchase.
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses - GOLDMAN SACHS DYNAMIC EMERGING MARKETS DEBT FUND
Class A
Class C
Institutional
Investor
Class R
Class T
Management Fees [1] 0.80% 0.80% 0.80% 0.80% 0.80% 0.80%
Distribution and/or Service (12b-1) Fees 0.25% 0.75% none none 0.50% 0.25%
Other Expenses [2] 1.29% 1.54% 1.20% 1.29% 1.29% 1.29%
Service Fees none 0.25% none none none none
All Other Expenses 1.29% 1.29% 1.20% 1.29% 1.29% 1.29%
Total Annual Fund Operating Expenses 2.34% 3.09% 2.00% 2.09% 2.59% 2.34%
Expense Limitation [3] (1.14%) (1.13%) (1.14%) (1.13%) (1.14%) (1.14%)
Total Annual Fund Operating Expenses [4] 1.20% 1.96% 0.86% 0.96% 1.45% 1.20%
[1] The Fund's "Management Fees" have been restated to reflect current fees.
[2] The "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[3] The Investment Adviser has agreed to reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.024% of the Fund's average daily net assets. This arrangement will remain in effect through at least July 28, 2018, and prior to such date, the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees.
[4] After Expense Limitation
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Investor, Class R and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Investor, Class R and/or Class T Shares at the end of those periods, unless otherwise stated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the expense limitation arrangement for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Assuming complete redemption at end of period
Expense Example - GOLDMAN SACHS DYNAMIC EMERGING MARKETS DEBT FUND - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A Shares 567 1,043 1,545 2,922
Class C Shares 299 848 1,522 3,323
Institutional Shares 88 517 972 2,235
Investor Shares 98 546 1,020 2,331
Class R Shares 148 697 1,273 2,840
Class T Shares 369 856 1,368 2,774
Assuming no redemption
Expense Example, No Redemption
1 Year
3 Years
5 Years
10 Years
GOLDMAN SACHS DYNAMIC EMERGING MARKETS DEBT FUND | Class C Shares | USD ($) 199 848 1,522 3,323
Portfolio Turnover
The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 142% of the average value of its portfolio.
Principal Strategy
The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in sovereign and corporate debt securities of issuers in emerging market countries and other instruments, including credit linked notes and other investments, with similar economic exposures. Such securities and instruments may be denominated in U.S. Dollars or in non-U.S. currencies.

The Fund’s portfolio management team seeks to build a portfolio across the emerging markets debt market consistent with the Fund’s overall risk budget and the views of the Investment Adviser’s Global Fixed Income top-down teams. As market conditions change, the volatility and attractiveness of countries, regions, sectors, securities and strategies can change as well. To optimize the Fund’s risk/return potential within its long-term risk budget, the portfolio management team may dynamically adjust the mix of top-down and bottom-up strategies in the Fund’s portfolio.

The Fund may invest in all types of foreign and emerging market country fixed income securities, including the following:
  • Debt issued by governments, their agencies and instrumentalities, or by their central banks, including Brady Bonds;
  • Interests in structured securities;
  • Fixed and floating rate, senior and subordinated corporate debt obligations (such as bonds, debentures, notes and commercial paper);
  • Loan participations; and
  • Repurchase agreements with respect to the foregoing.
Foreign securities include securities of issuers located outside the U.S. or securities quoted or denominated in a currency other than the U.S. Dollar.

The Fund may also make currency investments, particularly longer-dated forward contracts that provide the Fund with economic exposure similar to investments in sovereign and corporate debt with respect to currency and interest rate exposure. Additionally, the Fund intends to use structured securities and derivatives, including but not limited to credit linked notes, financial futures contracts, treasury futures contracts, forward contracts, total return swap contracts, credit default swap contracts, and interest rate swap contracts, to attempt to improve the performance of the Fund, to hedge the Fund’s investments, and/or to gain exposure to certain countries or currencies.

The Fund may invest in securities without regard to credit rating. The countries in which the Fund invests may have sovereign ratings that are below investment grade or are unrated. Moreover, to the extent the Fund invests in corporate or other privately issued debt obligations, many of the issuers of such obligations will be smaller companies with stock market capitalizations of $1 billion or less at the time of investment. Securities of these issuers may be rated below investment grade (so-called “high yield” or “junk” bonds) or unrated. The Fund can invest in securities denominated in any currency and may be subject to the risk of adverse currency fluctuations.

For purposes of the Fund’s policy to invest at least 80% of its Net Assets in securities and instruments of “emerging market country” issuers, such countries include but are not limited to those considered to be developing by the World Bank. Generally, the Investment Adviser has broad discretion to identify other countries that it considers to qualify as emerging market countries. The majority of these countries are likely to be located in Africa, Asia, the Middle East, Eastern and Central Europe and Central and South America. Sovereign debt consists of debt securities issued by governments or any of their agencies, political subdivisions or instrumentalities, denominated in the local currency. Sovereign debt may also include nominal and real inflation-linked securities. In determining whether an issuer of corporate debt is in an emerging market country, the Investment Adviser will ordinarily do so by identifying the issuer’s “country of risk.” The issuer’s “country of risk” is determined based on a number of criteria, including its country of domicile, the primary stock exchange on which it trades, the location from which the majority of its revenue comes, and its reporting currency. Although the Investment Adviser will generally rely on an issuer’s “country of risk” as determined by Bloomberg, it is not required to do so.

The Fund’s benchmark index is the Dynamic Emerging Markets Debt Fund Composite Index, which is comprised of the J.P. Morgan Government Bond Index—Emerging Markets (GBI-EMSM) Global Diversified Index (Gross, USD, Unhedged) (50%), the J.P. Morgan Emerging Markets Bond Index (EMBISM) Global Diversified Index (Gross, USD, Unhedged) (25%), and the J.P. Morgan Corporate Emerging Markets Bond Index (CEMBISM) Broad Diversified Index (Gross, USD, Unhedged) (25%).

The Fund’s target duration range under normal interest rate conditions is that of the Dynamic Emerging Markets Debt Fund Composite Index, plus or minus two years, and over the last five years ended June 30, 2017, the duration of the Dynamic Emerging Markets Debt Fund Composite Index has ranged between approximately 5.11 and 5.46 years. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price is to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

THE FUND IS NON-DIVERSIFIED UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED (THE “INVESTMENT COMPANY ACT”), AND MAY INVEST A LARGER PERCENTAGE OF ITS ASSETS IN FEWER ISSUERS THAN DIVERSIFIED MUTUAL FUNDS.
Principal Risks of the Fund
Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation ("FDIC") or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.
  • Counterparty Risk.  Many of the protections afforded to cleared transactions, such as the security afforded by transacting through a clearinghouse, might not be available in connection with over-the-counter ("OTC") transactions. Therefore, in those instances in which the Fund enters into OTC transactions, the Fund will be subject to the risk that its direct counterparty will not perform its obligations under the transactions and that the Fund will sustain losses.
  • Credit/Default Risk.  An issuer or guarantor of fixed income securities held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund's liquidity and cause significant deterioration in net asset value ("NAV"). These risks are more pronounced in connection with the Fund's investments in non-investment grade fixed income securities.
  • Derivatives Risk.  The Fund's use of futures, forwards, foreign currency forwards, swaps, structured securities (e.g., credit linked notes) and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligations. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund's use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund's ability to invest in derivatives and other instruments and adversely affect the Fund's performance and ability to pursue its investment objectives.
  • Foreign and Emerging Countries Risk.  Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls, sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States or other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. These risks may be more pronounced in connection with the Fund's investments in securities of issuers located in emerging countries.
  • Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rate are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund's investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.
  • Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund's NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund's performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund's current expenses being allocated over a smaller asset base, leading to an increase in the Fund's expense ratio.
  • Liquidity Risk.  The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests, or other reasons. To meet redemption requests, the Fund may be forced to sell securities at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.
  • Non-Diversification Risk.  The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified mutual funds. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.
  • Non-Hedging Foreign Currency Trading Risk.  The Fund may engage in forward foreign currency transactions for both hedging and non-hedging purposes. The Funds' Investment Adviser may purchase or sell foreign currencies through the use of forward contracts based on the Investment Adviser's judgment regarding the direction of the market for a particular foreign currency or currencies. In pursuing this strategy, the Investment Adviser seeks to profit from anticipated movements in currency rates by establishing "long" and/or "short" positions in forward contracts on various foreign currencies. Foreign exchange rates can be extremely volatile and a variance in the degree of volatility of the market or in the direction of the market from that anticipated by the Investment Adviser may produce significant losses to the Fund. Some of these transactions may also be subject to interest rate risk.
  • Non-Investment Grade Fixed Income Securities Risk.  Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as "junk bonds") are considered speculative and are subject to the increased risk of an issuer's inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity.
  • Sovereign Default Risk.  An issuer of non-U.S. sovereign debt or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay the principal or interest when due. This may result from political or social factors, the general economic environment of a country, levels of foreign debt or foreign currency exchange rates.
Performance
The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Investor, Class R and Class T Shares compare to those of certain broad-based securities market indices and to the Dynamic Emerging Markets Debt Fund Composite Index, a custom benchmark comprised of the J.P. Morgan Government Bond Index—Emerging Markets (GBI-EMSM) Global Diversified Index (Gross, USD, Unhedged) (50%), the J.P. Morgan Emerging Markets Bond Index (EMBISM) Global Diversified Index (Gross, USD, Unhedged) (25%), and the J.P. Morgan Corporate Emerging Markets Bond Index (CEMBISM) Broad Diversified Index (Gross, USD, Unhedged) (25%). The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart
The total return for Class A Shares for the six-month
period ended June 30, 2017
was 8.83%.

Best Quarter
Q1 ‘16              +7.44%

Worst Quarter
Q3 ‘15              –6.48%
AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Average Annual Total Returns - GOLDMAN SACHS DYNAMIC EMERGING MARKETS DEBT FUND
1 Year
Since Inception
Inception Date
Class A Shares 4.20% (2.87%) May 31, 2013
Class A Shares | Returns After Taxes on Distributions 2.61% (4.40%) May 31, 2013
Class A Shares | Returns After Taxes on Distributions and Sale of Fund Shares 2.89% (2.69%) May 31, 2013
Class C Shares 7.29% (2.28%) May 31, 2013
Institutional Shares 9.52% (1.23%) May 31, 2013
Investor Shares 9.44% (1.39%) May 31, 2013
Class R Shares 8.89% (1.80%) May 31, 2013
Class T Shares [1] 4.20% (2.87%) Jul. 28, 2017
Dynamic Emerging Markets Debt Fund Composite Index 10.03% (0.42%)  
J.P. Morgan Government Bond Index—Emerging Markets (GBI-EMSM) Global Diversified Index (Gross, USD, Unhedged) (reflects no deduction for fees, expenses or taxes) 9.91% (5.09%)  
J.P. Morgan Emerging Markets Bond Index (EMBISM) Global Diversified Index (Gross, USD, Unhedged) (reflects no deduction for fees, expenses or taxes) 10.12% 4.46%  
J.P. Morgan Corporate Emerging Markets Bond Index (CEMBISM) Broad Diversified Index (Gross, USD, Unhedged) (reflects no deduction for fees, expenses or taxes) 9.62% 4.12%  
[1] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 22 R33.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName GOLDMAN SACHS TRUST
Prospectus Date rr_ProspectusDate Jul. 28, 2017
GOLDMAN SACHS DYNAMIC EMERGING MARKETS DEBT FUND  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Goldman Sachs Dynamic Emerging Markets Debt Fund—Summary
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Goldman Sachs Dynamic Emerging Markets Debt Fund (the “Fund”) seeks a high level of total return consisting of income and capital appreciation.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 71 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 75 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees
(fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination July 28, 2018
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 142% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 142.00%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock A contingent deferred sales charge ("CDSC") of 1.00% is imposed on Class C Shares redeemed within 12 months of purchase.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 71 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 75 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates The "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent The Fund's "Management Fees" have been restated to reflect current fees.
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Investor, Class R and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Investor, Class R and/or Class T Shares at the end of those periods, unless otherwise stated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the expense limitation arrangement for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption Assuming complete redemption at end of period
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption Assuming no redemption
Strategy [Heading] rr_StrategyHeading Principal Strategy
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in sovereign and corporate debt securities of issuers in emerging market countries and other instruments, including credit linked notes and other investments, with similar economic exposures. Such securities and instruments may be denominated in U.S. Dollars or in non-U.S. currencies.

The Fund’s portfolio management team seeks to build a portfolio across the emerging markets debt market consistent with the Fund’s overall risk budget and the views of the Investment Adviser’s Global Fixed Income top-down teams. As market conditions change, the volatility and attractiveness of countries, regions, sectors, securities and strategies can change as well. To optimize the Fund’s risk/return potential within its long-term risk budget, the portfolio management team may dynamically adjust the mix of top-down and bottom-up strategies in the Fund’s portfolio.

The Fund may invest in all types of foreign and emerging market country fixed income securities, including the following:
  • Debt issued by governments, their agencies and instrumentalities, or by their central banks, including Brady Bonds;
  • Interests in structured securities;
  • Fixed and floating rate, senior and subordinated corporate debt obligations (such as bonds, debentures, notes and commercial paper);
  • Loan participations; and
  • Repurchase agreements with respect to the foregoing.
Foreign securities include securities of issuers located outside the U.S. or securities quoted or denominated in a currency other than the U.S. Dollar.

The Fund may also make currency investments, particularly longer-dated forward contracts that provide the Fund with economic exposure similar to investments in sovereign and corporate debt with respect to currency and interest rate exposure. Additionally, the Fund intends to use structured securities and derivatives, including but not limited to credit linked notes, financial futures contracts, treasury futures contracts, forward contracts, total return swap contracts, credit default swap contracts, and interest rate swap contracts, to attempt to improve the performance of the Fund, to hedge the Fund’s investments, and/or to gain exposure to certain countries or currencies.

The Fund may invest in securities without regard to credit rating. The countries in which the Fund invests may have sovereign ratings that are below investment grade or are unrated. Moreover, to the extent the Fund invests in corporate or other privately issued debt obligations, many of the issuers of such obligations will be smaller companies with stock market capitalizations of $1 billion or less at the time of investment. Securities of these issuers may be rated below investment grade (so-called “high yield” or “junk” bonds) or unrated. The Fund can invest in securities denominated in any currency and may be subject to the risk of adverse currency fluctuations.

For purposes of the Fund’s policy to invest at least 80% of its Net Assets in securities and instruments of “emerging market country” issuers, such countries include but are not limited to those considered to be developing by the World Bank. Generally, the Investment Adviser has broad discretion to identify other countries that it considers to qualify as emerging market countries. The majority of these countries are likely to be located in Africa, Asia, the Middle East, Eastern and Central Europe and Central and South America. Sovereign debt consists of debt securities issued by governments or any of their agencies, political subdivisions or instrumentalities, denominated in the local currency. Sovereign debt may also include nominal and real inflation-linked securities. In determining whether an issuer of corporate debt is in an emerging market country, the Investment Adviser will ordinarily do so by identifying the issuer’s “country of risk.” The issuer’s “country of risk” is determined based on a number of criteria, including its country of domicile, the primary stock exchange on which it trades, the location from which the majority of its revenue comes, and its reporting currency. Although the Investment Adviser will generally rely on an issuer’s “country of risk” as determined by Bloomberg, it is not required to do so.

The Fund’s benchmark index is the Dynamic Emerging Markets Debt Fund Composite Index, which is comprised of the J.P. Morgan Government Bond Index—Emerging Markets (GBI-EMSM) Global Diversified Index (Gross, USD, Unhedged) (50%), the J.P. Morgan Emerging Markets Bond Index (EMBISM) Global Diversified Index (Gross, USD, Unhedged) (25%), and the J.P. Morgan Corporate Emerging Markets Bond Index (CEMBISM) Broad Diversified Index (Gross, USD, Unhedged) (25%).

The Fund’s target duration range under normal interest rate conditions is that of the Dynamic Emerging Markets Debt Fund Composite Index, plus or minus two years, and over the last five years ended June 30, 2017, the duration of the Dynamic Emerging Markets Debt Fund Composite Index has ranged between approximately 5.11 and 5.46 years. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price is to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

THE FUND IS NON-DIVERSIFIED UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED (THE “INVESTMENT COMPANY ACT”), AND MAY INVEST A LARGER PERCENTAGE OF ITS ASSETS IN FEWER ISSUERS THAN DIVERSIFIED MUTUAL FUNDS.
Risk [Heading] rr_RiskHeading Principal Risks of the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation ("FDIC") or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.
  • Counterparty Risk.  Many of the protections afforded to cleared transactions, such as the security afforded by transacting through a clearinghouse, might not be available in connection with over-the-counter ("OTC") transactions. Therefore, in those instances in which the Fund enters into OTC transactions, the Fund will be subject to the risk that its direct counterparty will not perform its obligations under the transactions and that the Fund will sustain losses.
  • Credit/Default Risk.  An issuer or guarantor of fixed income securities held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund's liquidity and cause significant deterioration in net asset value ("NAV"). These risks are more pronounced in connection with the Fund's investments in non-investment grade fixed income securities.
  • Derivatives Risk.  The Fund's use of futures, forwards, foreign currency forwards, swaps, structured securities (e.g., credit linked notes) and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligations. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund's use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund's ability to invest in derivatives and other instruments and adversely affect the Fund's performance and ability to pursue its investment objectives.
  • Foreign and Emerging Countries Risk.  Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls, sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States or other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. These risks may be more pronounced in connection with the Fund's investments in securities of issuers located in emerging countries.
  • Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rate are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund's investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.
  • Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund's NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund's performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund's current expenses being allocated over a smaller asset base, leading to an increase in the Fund's expense ratio.
  • Liquidity Risk.  The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests, or other reasons. To meet redemption requests, the Fund may be forced to sell securities at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.
  • Non-Diversification Risk.  The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified mutual funds. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.
  • Non-Hedging Foreign Currency Trading Risk.  The Fund may engage in forward foreign currency transactions for both hedging and non-hedging purposes. The Funds' Investment Adviser may purchase or sell foreign currencies through the use of forward contracts based on the Investment Adviser's judgment regarding the direction of the market for a particular foreign currency or currencies. In pursuing this strategy, the Investment Adviser seeks to profit from anticipated movements in currency rates by establishing "long" and/or "short" positions in forward contracts on various foreign currencies. Foreign exchange rates can be extremely volatile and a variance in the degree of volatility of the market or in the direction of the market from that anticipated by the Investment Adviser may produce significant losses to the Fund. Some of these transactions may also be subject to interest rate risk.
  • Non-Investment Grade Fixed Income Securities Risk.  Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as "junk bonds") are considered speculative and are subject to the increased risk of an issuer's inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity.
  • Sovereign Default Risk.  An issuer of non-U.S. sovereign debt or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay the principal or interest when due. This may result from political or social factors, the general economic environment of a country, levels of foreign debt or foreign currency exchange rates.
Risk Lose Money [Text] rr_RiskLoseMoney Loss of money is a risk of investing in the Fund.
Risk Nondiversified Status [Text] rr_RiskNondiversifiedStatus
  • Non-Diversification Risk.  The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified mutual funds. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation ("FDIC") or any government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Investor, Class R and Class T Shares compare to those of certain broad-based securities market indices and to the Dynamic Emerging Markets Debt Fund Composite Index, a custom benchmark comprised of the J.P. Morgan Government Bond Index—Emerging Markets (GBI-EMSM) Global Diversified Index (Gross, USD, Unhedged) (50%), the J.P. Morgan Emerging Markets Bond Index (EMBISM) Global Diversified Index (Gross, USD, Unhedged) (25%), and the J.P. Morgan Corporate Emerging Markets Bond Index (CEMBISM) Broad Diversified Index (Gross, USD, Unhedged) (25%). The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Investor, Class R and Class T Shares compare to those of certain broad-based securities market indices and to the Dynamic Emerging Markets Debt Fund Composite Index, a custom benchmark comprised of the J.P. Morgan Government Bond Index—Emerging Markets (GBI-EMSM) Global Diversified Index (Gross, USD, Unhedged) (50%), the J.P. Morgan Emerging Markets Bond Index (EMBISM) Global Diversified Index (Gross, USD, Unhedged) (25%), and the J.P. Morgan Corporate Emerging Markets Bond Index (CEMBISM) Broad Diversified Index (Gross, USD, Unhedged) (25%).
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess As of the date of the Prospectus, Class T Shares have not commenced operations.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.gsamfunds.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The total return for Class A Shares for the six-month
period ended June 30, 2017
was 8.83%.

Best Quarter
Q1 ‘16              +7.44%

Worst Quarter
Q3 ‘15              –6.48%
Performance Table Heading rr_PerformanceTableHeading AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Performance Table Does Reflect Sales Loads rr_PerformanceTableDoesReflectSalesLoads Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R Shares (which are offered exclusively to employee benefit plans), will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
GOLDMAN SACHS DYNAMIC EMERGING MARKETS DEBT FUND | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 4.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sales proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 30 calendar days or less) rr_RedemptionFeeOverRedemption 2.00%
Management Fees rr_ManagementFeesOverAssets 0.80% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 1.29%
Other Expenses rr_OtherExpensesOverAssets 1.29% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.34%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (1.14%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.20% [5]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 100,000
1 Year rr_ExpenseExampleYear01 567
3 Years rr_ExpenseExampleYear03 1,043
5 Years rr_ExpenseExampleYear05 1,545
10 Years rr_ExpenseExampleYear10 $ 2,922
2014 rr_AnnualReturn2014 (1.44%)
2015 rr_AnnualReturn2015 (8.56%)
2016 rr_AnnualReturn2016 9.16%
Year to Date Return, Label rr_YearToDateReturnLabel total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 8.83%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2016
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 7.44%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2015
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (6.48%)
1 Year rr_AverageAnnualReturnYear01 4.20%
Since Inception rr_AverageAnnualReturnSinceInception (2.87%)
Inception Date rr_AverageAnnualReturnInceptionDate May 31, 2013
GOLDMAN SACHS DYNAMIC EMERGING MARKETS DEBT FUND | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sales proceeds) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 30 calendar days or less) rr_RedemptionFeeOverRedemption 2.00%
Management Fees rr_ManagementFeesOverAssets 0.80% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
All Other Expenses rr_Component3OtherExpensesOverAssets 1.29%
Other Expenses rr_OtherExpensesOverAssets 1.54% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 3.09%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (1.13%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.96% [5]
1 Year rr_ExpenseExampleYear01 $ 299
3 Years rr_ExpenseExampleYear03 848
5 Years rr_ExpenseExampleYear05 1,522
10 Years rr_ExpenseExampleYear10 3,323
1 Year rr_ExpenseExampleNoRedemptionYear01 199
3 Years rr_ExpenseExampleNoRedemptionYear03 848
5 Years rr_ExpenseExampleNoRedemptionYear05 1,522
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 3,323
1 Year rr_AverageAnnualReturnYear01 7.29%
Since Inception rr_AverageAnnualReturnSinceInception (2.28%)
Inception Date rr_AverageAnnualReturnInceptionDate May 31, 2013
GOLDMAN SACHS DYNAMIC EMERGING MARKETS DEBT FUND | Institutional  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sales proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 30 calendar days or less) rr_RedemptionFeeOverRedemption 2.00%
Management Fees rr_ManagementFeesOverAssets 0.80% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 1.20%
Other Expenses rr_OtherExpensesOverAssets 1.20% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.00%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (1.14%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.86% [5]
1 Year rr_ExpenseExampleYear01 $ 88
3 Years rr_ExpenseExampleYear03 517
5 Years rr_ExpenseExampleYear05 972
10 Years rr_ExpenseExampleYear10 $ 2,235
1 Year rr_AverageAnnualReturnYear01 9.52%
Since Inception rr_AverageAnnualReturnSinceInception (1.23%)
Inception Date rr_AverageAnnualReturnInceptionDate May 31, 2013
GOLDMAN SACHS DYNAMIC EMERGING MARKETS DEBT FUND | Investor  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sales proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 30 calendar days or less) rr_RedemptionFeeOverRedemption 2.00%
Management Fees rr_ManagementFeesOverAssets 0.80% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 1.29%
Other Expenses rr_OtherExpensesOverAssets 1.29% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.09%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (1.13%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.96% [5]
1 Year rr_ExpenseExampleYear01 $ 98
3 Years rr_ExpenseExampleYear03 546
5 Years rr_ExpenseExampleYear05 1,020
10 Years rr_ExpenseExampleYear10 $ 2,331
1 Year rr_AverageAnnualReturnYear01 9.44%
Since Inception rr_AverageAnnualReturnSinceInception (1.39%)
Inception Date rr_AverageAnnualReturnInceptionDate May 31, 2013
GOLDMAN SACHS DYNAMIC EMERGING MARKETS DEBT FUND | Class R  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sales proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 30 calendar days or less) rr_RedemptionFeeOverRedemption 2.00%
Management Fees rr_ManagementFeesOverAssets 0.80% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 1.29%
Other Expenses rr_OtherExpensesOverAssets 1.29% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.59%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (1.14%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.45% [5]
1 Year rr_ExpenseExampleYear01 $ 148
3 Years rr_ExpenseExampleYear03 697
5 Years rr_ExpenseExampleYear05 1,273
10 Years rr_ExpenseExampleYear10 $ 2,840
1 Year rr_AverageAnnualReturnYear01 8.89%
Since Inception rr_AverageAnnualReturnSinceInception (1.80%)
Inception Date rr_AverageAnnualReturnInceptionDate May 31, 2013
GOLDMAN SACHS DYNAMIC EMERGING MARKETS DEBT FUND | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sales proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 30 calendar days or less) rr_RedemptionFeeOverRedemption 2.00%
Management Fees rr_ManagementFeesOverAssets 0.80% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 1.29%
Other Expenses rr_OtherExpensesOverAssets 1.29% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.34%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (1.14%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.20% [5]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
1 Year rr_ExpenseExampleYear01 369
3 Years rr_ExpenseExampleYear03 856
5 Years rr_ExpenseExampleYear05 1,368
10 Years rr_ExpenseExampleYear10 $ 2,774
1 Year rr_AverageAnnualReturnYear01 4.20% [6]
Since Inception rr_AverageAnnualReturnSinceInception (2.87%) [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [6]
GOLDMAN SACHS DYNAMIC EMERGING MARKETS DEBT FUND | Returns After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.61%
Since Inception rr_AverageAnnualReturnSinceInception (4.40%)
Inception Date rr_AverageAnnualReturnInceptionDate May 31, 2013
GOLDMAN SACHS DYNAMIC EMERGING MARKETS DEBT FUND | Returns After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.89%
Since Inception rr_AverageAnnualReturnSinceInception (2.69%)
Inception Date rr_AverageAnnualReturnInceptionDate May 31, 2013
GOLDMAN SACHS DYNAMIC EMERGING MARKETS DEBT FUND | Dynamic Emerging Markets Debt Fund Composite Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 10.03%
Since Inception rr_AverageAnnualReturnSinceInception (0.42%)
GOLDMAN SACHS DYNAMIC EMERGING MARKETS DEBT FUND | J.P. Morgan Government Bond Index—Emerging Markets (GBI-EMSM) Global Diversified Index (Gross, USD, Unhedged) (reflects no deduction for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 9.91%
Since Inception rr_AverageAnnualReturnSinceInception (5.09%)
GOLDMAN SACHS DYNAMIC EMERGING MARKETS DEBT FUND | J.P. Morgan Emerging Markets Bond Index (EMBISM) Global Diversified Index (Gross, USD, Unhedged) (reflects no deduction for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 10.12%
Since Inception rr_AverageAnnualReturnSinceInception 4.46%
GOLDMAN SACHS DYNAMIC EMERGING MARKETS DEBT FUND | J.P. Morgan Corporate Emerging Markets Bond Index (CEMBISM) Broad Diversified Index (Gross, USD, Unhedged) (reflects no deduction for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 9.62%
Since Inception rr_AverageAnnualReturnSinceInception 4.12%
[1] A contingent deferred sales charge ("CDSC") of 1.00% is imposed on Class C Shares redeemed within 12 months of purchase.
[2] The Fund's "Management Fees" have been restated to reflect current fees.
[3] The "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[4] The Investment Adviser has agreed to reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.024% of the Fund's average daily net assets. This arrangement will remain in effect through at least July 28, 2018, and prior to such date, the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees.
[5] After Expense Limitation
[6] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
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Goldman Sachs Emerging Markets Debt Fund
Goldman Sachs Emerging Markets Debt Fund—Summary
Investment Objective
The Goldman Sachs Emerging Markets Debt Fund (the “Fund”) seeks a high level of total return consisting of income and capital appreciation.
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 71 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 75 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees
(fees paid directly from your investment)
Shareholder Fees - Goldman Sachs Emerging Markets Debt Fund
Class A
Class C
Institutional
Investor
Class R6
Class T
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 4.50% none none none none 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) [1] none 1.00% none none none none
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 30 calendar days or less) 2.00% 2.00% 2.00% 2.00% 2.00% 2.00%
[1] A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase.
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses - Goldman Sachs Emerging Markets Debt Fund
Class A
Class C
Institutional
Investor
Class R6
Class T
Management Fees 0.80% 0.80% 0.80% 0.80% 0.80% 0.80%
Distribution and/or Service (12b-1) Fees 0.25% 0.75% none none none 0.25%
Other Expenses [1] 0.19% 0.44% 0.10% 0.19% 0.09% 0.19%
Service Fees none 0.25% none none none none
All Other Expenses 0.19% 0.19% 0.10% 0.19% 0.09% 0.19%
Total Annual Fund Operating Expenses 1.24% 1.99% 0.90% 0.99% 0.89% 1.24%
Expense Limitation [2] (0.04%) (0.04%) (0.04%) (0.04%) (0.04%) (0.04%)
Total Annual Fund Operating Expenses [3] 1.20% 1.95% 0.86% 0.95% 0.85% 1.20%
[1] The "Other Expenses" for Class R6 Shares have been restated and the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[2] The Investment Adviser has agreed to reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification, and extraordinary expenses) to 0.024% of the Fund's average daily net assets through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees.
[3] After Expense Limitation
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Investor, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Investor, Class R6 and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the expense limitation arrangement for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Assuming complete redemption at end of period
Expense Example - Goldman Sachs Emerging Markets Debt Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A Shares 567 822 1,097 1,879
Class C Shares 298 621 1,069 2,313
Institutional Shares 88 283 495 1,104
Investor Shares 97 311 543 1,209
Class R6 Shares 87 280 489 1,092
Class T Shares 369 630 910 1,709
Assuming no redemption
Expense Example, No Redemption
1 Year
3 Years
5 Years
10 Years
Goldman Sachs Emerging Markets Debt Fund | Class C Shares | USD ($) 198 621 1,069 2,313
Portfolio Turnover
The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 89% of the average value of its portfolio.
Principal Strategy
The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in sovereign and corporate debt securities and other instruments of issuers in emerging market countries. Such instruments may include credit linked notes and other investments with similar economic exposures.

The Fund’s portfolio managers seek to build a portfolio across the emerging markets debt market consistent with the Fund’s overall risk budget and the views of the Investment Adviser’s Global Fixed Income top-down teams. As market conditions change, the volatility and attractiveness of sectors, securities and strategies can change as well. To optimize the Fund’s risk/return potential within its long-term risk budget, the portfolio managers may dynamically adjust the mix of top-down and bottom-up strategies in the Fund’s portfolio.

The Fund may invest in all types of foreign and emerging country fixed income securities, including the following:
  • Debt issued by governments, their agencies and instrumentalities, or by their central banks, including Brady Bonds;
  • Interests in structured securities;
  • Fixed and floating rate, senior and subordinated corporate debt obligations (such as bonds, debentures, notes and commercial paper);
  • Loan participations; and
  • Repurchase agreements with respect to the foregoing.
Foreign securities include securities of issuers located outside the U.S. or securities quoted or denominated in a currency other than the U.S. Dollar.

The Fund intends to use structured securities or derivatives, including but not limited to credit linked notes, financial future contracts, forward contracts and swap contracts to gain exposure to certain countries or currencies.

The Fund may invest in securities without regard to credit rating. The countries in which the Fund invests may have sovereign ratings that are below investment grade or are unrated. Moreover, to the extent the Fund invests in corporate or other privately issued debt obligations, many of the issuers of such obligations will be smaller companies with stock market capitalizations of $1 billion or less at the time of investment. Securities of these issuers may be rated below investment grade (so-called “high yield” or “junk” bonds) or unrated. Although a majority of the Fund’s assets may be denominated in U.S. Dollars, the Fund may invest in securities denominated in any currency and may be subject to the risk of adverse currency fluctuations.

For purposes of the Fund’s policy to invest at least 80% of its Net Assets in securities and instruments of issuers in “emerging market countries”, such countries include but are not limited to those considered to be developing by the World Bank. Generally, the Investment Adviser has broad discretion to identify other countries that it considers to qualify as emerging market countries. The majority of these countries are likely to be located in Africa, Asia, the Middle East, Eastern and Central Europe and Central and South America. Sovereign debt consists of debt securities issued by governments or any of their agencies, political subdivisions or instrumentalities. Sovereign debt may also include nominal and real inflation-linked securities. In determining whether an issuer of corporate debt is in an emerging market country, the Investment Adviser will ordinarily do so by identifying the issuer’s “country of risk.” The issuer’s “country of risk” is determined based on a number of criteria, including its country of domicile, the primary stock exchange on which it trades, the location from which the majority of its revenue comes, and its reporting currency. Although the Investment Adviser will generally rely on an issuer’s “country of risk” as determined by Bloomberg, it is not required to do so.

The Fund’s target duration range under normal interest rate conditions is expected to approximate that of the J.P. Morgan Emerging Markets Bond Index (EMBISM) Global Diversified Index (Gross, USD, Unhedged), plus or minus 2 years, and over the last five years ended June 30, 2017, the duration of this Index has ranged between 6.34 and 7.15 years. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

The Fund’s benchmark index is the J.P. Morgan Emerging Markets Bond Index (EMBISM) Global Diversified Index (Gross, USD, Unhedged).

THE FUND IS NON-DIVERSIFIED UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED (THE “INVESTMENT COMPANY ACT”), AND MAY INVEST A LARGER PERCENTAGE OF ITS ASSETS IN FEWER ISSUERS THAN DIVERSIFIED MUTUAL FUNDS.
Principal Risks of the Fund
Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.
  • Counterparty Risk.  Many of the protections afforded to cleared transactions, such as the security afforded by transacting through a clearinghouse, might not be available in connection with over-the-counter (“OTC”) transactions. Therefore, in those instances in which the Fund enters into OTC transactions, the Fund will be subject to the risk that its direct counterparty will not perform its obligations under the transactions and that the Fund will sustain losses.
  • Credit/Default Risk.  An issuer or guarantor of fixed income securities or instruments held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant deterioration in net asset value (“NAV”). These risks are more pronounced in connection with the Fund’s investments in non-investment grade fixed income securities.
  • Derivatives Risk.  The Fund’s use of futures, forwards, swaps, structured securities (e.g., credit linked notes) and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligations. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund’s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund’s ability to invest in derivatives and other instruments and adversely affect the Fund’s performance and ability to pursue its investment objectives.
  • Foreign and Emerging Countries Risk.  Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls, sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. These risks may be more pronounced in connection with the Fund’s investments in securities of issuers located in emerging countries.
  • Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rate are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.
  • Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.
  • Liquidity Risk.  The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests or other reasons. To meet redemption requests, the Fund may be forced to sell securities at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.
  • Non-Diversification Risk.  The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified mutual funds. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.
  • Non-Investment Grade Fixed Income Securities Risk.  Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as “junk bonds”) are considered speculative and are subject to the increased risk of an issuer’s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity.
  • Sovereign Default Risk.  An issuer of non-U.S. sovereign debt held by the Fund or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay the principal or interest when due. This may result from political or social factors, the general economic environment of a country, levels of foreign debt or foreign currency exchange rates.
Performance
The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Investor, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart
The total return for Class A Shares for the six-month period ended
June 30, 2017 was 6.29%.

Best Quarter
Q2 ‘09              +16.16%

Worst Quarter
Q4 ‘08              –13.18%
AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Average Annual Total Returns - Goldman Sachs Emerging Markets Debt Fund
1 Year
5 Years
10 Years
Since Inception
Inception Date
Class A Shares 5.06% 4.65% 6.07% 8.25% Aug. 29, 2003
Class A Shares | Returns After Taxes on Distributions 2.87% 2.42% 3.79% 5.71% Aug. 29, 2003
Class A Shares | Returns After Taxes on Distributions and Sale of Fund Shares 2.85% 2.64% 3.79% 5.51% Aug. 29, 2003
Class A Shares | J.P. Morgan Emerging Markets Bond Index (EMBI℠) Global Diversified Index (Gross, USD, Unhedged) (reflects no deduction for fees, expenses or taxes) 10.12% 5.90% 6.88% 8.10% Aug. 29, 2003
Class C Shares 8.08% 4.83% 5.78% 6.07% Sep. 29, 2006
Class C Shares | J.P. Morgan Emerging Markets Bond Index (EMBI℠) Global Diversified Index (Gross, USD, Unhedged) (reflects no deduction for fees, expenses or taxes) 10.12% 5.90% 6.88% 7.09% Sep. 29, 2006
Institutional Shares 10.30% 5.95% 6.92% 9.00% Aug. 29, 2003
Institutional Shares | J.P. Morgan Emerging Markets Bond Index (EMBI℠) Global Diversified Index (Gross, USD, Unhedged) (reflects no deduction for fees, expenses or taxes) 10.12% 5.90% 6.88% 8.10% Aug. 29, 2003
Investor Shares 10.20% 5.87% 5.99% Jul. 30, 2010
Investor Shares | J.P. Morgan Emerging Markets Bond Index (EMBI℠) Global Diversified Index (Gross, USD, Unhedged) (reflects no deduction for fees, expenses or taxes) 10.12% 5.90% 6.08% Jul. 30, 2010
Class R6 Shares [1] 10.32% 5.96% 6.92% 9.01% Jul. 31, 2015
Class R6 Shares | J.P. Morgan Emerging Markets Bond Index (EMBI℠) Global Diversified Index (Gross, USD, Unhedged) (reflects no deduction for fees, expenses or taxes) [1] 10.12% 5.90% 6.88% 8.10% Jul. 31, 2015
Class T Shares [2] 5.06% 4.65% 6.07% 8.25% Jul. 28, 2017
Class T Shares | J.P. Morgan Emerging Markets Bond Index (EMBI℠) Global Diversified Index (Gross, USD, Unhedged) (reflects no deduction for fees, expenses or taxes) [2] 10.12% 5.90% 6.88% 8.10% Jul. 28, 2017
[1] Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of the Class R6 Shares shown in the table above is that of the Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses.
[2] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

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Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName GOLDMAN SACHS TRUST
Prospectus Date rr_ProspectusDate Jul. 28, 2017
Goldman Sachs Emerging Markets Debt Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Goldman Sachs Emerging Markets Debt Fund—Summary
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Goldman Sachs Emerging Markets Debt Fund (the “Fund”) seeks a high level of total return consisting of income and capital appreciation.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 71 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 75 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees
(fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination July 28, 2018
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 89% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 89.00%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 71 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 75 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent The "Other Expenses" for Class R6 Shares have been restated
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Investor, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Investor, Class R6 and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the expense limitation arrangement for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption Assuming complete redemption at end of period
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption Assuming no redemption
Strategy [Heading] rr_StrategyHeading Principal Strategy
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in sovereign and corporate debt securities and other instruments of issuers in emerging market countries. Such instruments may include credit linked notes and other investments with similar economic exposures.

The Fund’s portfolio managers seek to build a portfolio across the emerging markets debt market consistent with the Fund’s overall risk budget and the views of the Investment Adviser’s Global Fixed Income top-down teams. As market conditions change, the volatility and attractiveness of sectors, securities and strategies can change as well. To optimize the Fund’s risk/return potential within its long-term risk budget, the portfolio managers may dynamically adjust the mix of top-down and bottom-up strategies in the Fund’s portfolio.

The Fund may invest in all types of foreign and emerging country fixed income securities, including the following:
  • Debt issued by governments, their agencies and instrumentalities, or by their central banks, including Brady Bonds;
  • Interests in structured securities;
  • Fixed and floating rate, senior and subordinated corporate debt obligations (such as bonds, debentures, notes and commercial paper);
  • Loan participations; and
  • Repurchase agreements with respect to the foregoing.
Foreign securities include securities of issuers located outside the U.S. or securities quoted or denominated in a currency other than the U.S. Dollar.

The Fund intends to use structured securities or derivatives, including but not limited to credit linked notes, financial future contracts, forward contracts and swap contracts to gain exposure to certain countries or currencies.

The Fund may invest in securities without regard to credit rating. The countries in which the Fund invests may have sovereign ratings that are below investment grade or are unrated. Moreover, to the extent the Fund invests in corporate or other privately issued debt obligations, many of the issuers of such obligations will be smaller companies with stock market capitalizations of $1 billion or less at the time of investment. Securities of these issuers may be rated below investment grade (so-called “high yield” or “junk” bonds) or unrated. Although a majority of the Fund’s assets may be denominated in U.S. Dollars, the Fund may invest in securities denominated in any currency and may be subject to the risk of adverse currency fluctuations.

For purposes of the Fund’s policy to invest at least 80% of its Net Assets in securities and instruments of issuers in “emerging market countries”, such countries include but are not limited to those considered to be developing by the World Bank. Generally, the Investment Adviser has broad discretion to identify other countries that it considers to qualify as emerging market countries. The majority of these countries are likely to be located in Africa, Asia, the Middle East, Eastern and Central Europe and Central and South America. Sovereign debt consists of debt securities issued by governments or any of their agencies, political subdivisions or instrumentalities. Sovereign debt may also include nominal and real inflation-linked securities. In determining whether an issuer of corporate debt is in an emerging market country, the Investment Adviser will ordinarily do so by identifying the issuer’s “country of risk.” The issuer’s “country of risk” is determined based on a number of criteria, including its country of domicile, the primary stock exchange on which it trades, the location from which the majority of its revenue comes, and its reporting currency. Although the Investment Adviser will generally rely on an issuer’s “country of risk” as determined by Bloomberg, it is not required to do so.

The Fund’s target duration range under normal interest rate conditions is expected to approximate that of the J.P. Morgan Emerging Markets Bond Index (EMBISM) Global Diversified Index (Gross, USD, Unhedged), plus or minus 2 years, and over the last five years ended June 30, 2017, the duration of this Index has ranged between 6.34 and 7.15 years. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

The Fund’s benchmark index is the J.P. Morgan Emerging Markets Bond Index (EMBISM) Global Diversified Index (Gross, USD, Unhedged).

THE FUND IS NON-DIVERSIFIED UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED (THE “INVESTMENT COMPANY ACT”), AND MAY INVEST A LARGER PERCENTAGE OF ITS ASSETS IN FEWER ISSUERS THAN DIVERSIFIED MUTUAL FUNDS.
Risk [Heading] rr_RiskHeading Principal Risks of the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.
  • Counterparty Risk.  Many of the protections afforded to cleared transactions, such as the security afforded by transacting through a clearinghouse, might not be available in connection with over-the-counter (“OTC”) transactions. Therefore, in those instances in which the Fund enters into OTC transactions, the Fund will be subject to the risk that its direct counterparty will not perform its obligations under the transactions and that the Fund will sustain losses.
  • Credit/Default Risk.  An issuer or guarantor of fixed income securities or instruments held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant deterioration in net asset value (“NAV”). These risks are more pronounced in connection with the Fund’s investments in non-investment grade fixed income securities.
  • Derivatives Risk.  The Fund’s use of futures, forwards, swaps, structured securities (e.g., credit linked notes) and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligations. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund’s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund’s ability to invest in derivatives and other instruments and adversely affect the Fund’s performance and ability to pursue its investment objectives.
  • Foreign and Emerging Countries Risk.  Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls, sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. These risks may be more pronounced in connection with the Fund’s investments in securities of issuers located in emerging countries.
  • Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rate are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.
  • Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.
  • Liquidity Risk.  The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests or other reasons. To meet redemption requests, the Fund may be forced to sell securities at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.
  • Non-Diversification Risk.  The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified mutual funds. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.
  • Non-Investment Grade Fixed Income Securities Risk.  Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as “junk bonds”) are considered speculative and are subject to the increased risk of an issuer’s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity.
  • Sovereign Default Risk.  An issuer of non-U.S. sovereign debt held by the Fund or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay the principal or interest when due. This may result from political or social factors, the general economic environment of a country, levels of foreign debt or foreign currency exchange rates.
Risk Lose Money [Text] rr_RiskLoseMoney Loss of money is a risk of investing in the Fund.
Risk Nondiversified Status [Text] rr_RiskNondiversifiedStatus
  • Non-Diversification Risk.  The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified mutual funds. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Investor, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Investor, Class R6 and Class T Shares compare to those of a broad-based securities market index.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess As of the date of the Prospectus, Class T Shares have not commenced operations.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.gsamfunds.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The total return for Class A Shares for the six-month period ended
June 30, 2017 was 6.29%.

Best Quarter
Q2 ‘09              +16.16%

Worst Quarter
Q4 ‘08              –13.18%
Performance Table Heading rr_PerformanceTableHeading AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Performance Table Does Reflect Sales Loads rr_PerformanceTableDoesReflectSalesLoads Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Goldman Sachs Emerging Markets Debt Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 4.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 30 calendar days or less) rr_RedemptionFeeOverRedemption 2.00%
Management Fees rr_ManagementFeesOverAssets 0.80%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.19%
Other Expenses rr_OtherExpensesOverAssets 0.19% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.24%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.04%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.20% [4]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 100,000
1 Year rr_ExpenseExampleYear01 567
3 Years rr_ExpenseExampleYear03 822
5 Years rr_ExpenseExampleYear05 1,097
10 Years rr_ExpenseExampleYear10 $ 1,879
2007 rr_AnnualReturn2007 5.36%
2008 rr_AnnualReturn2008 (19.59%)
2009 rr_AnnualReturn2009 40.27%
2010 rr_AnnualReturn2010 13.51%
2011 rr_AnnualReturn2011 6.58%
2012 rr_AnnualReturn2012 19.26%
2013 rr_AnnualReturn2013 (6.26%)
2014 rr_AnnualReturn2014 6.18%
2015 rr_AnnualReturn2015 0.53%
2016 rr_AnnualReturn2016 10.03%
Year to Date Return, Label rr_YearToDateReturnLabel total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 6.29%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 16.16%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (13.18%)
1 Year rr_AverageAnnualReturnYear01 5.06%
5 Years rr_AverageAnnualReturnYear05 4.65%
10 Years rr_AverageAnnualReturnYear10 6.07%
Since Inception rr_AverageAnnualReturnSinceInception 8.25%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 29, 2003
Goldman Sachs Emerging Markets Debt Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 30 calendar days or less) rr_RedemptionFeeOverRedemption 2.00%
Management Fees rr_ManagementFeesOverAssets 0.80%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
All Other Expenses rr_Component3OtherExpensesOverAssets 0.19%
Other Expenses rr_OtherExpensesOverAssets 0.44% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.99%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.04%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.95% [4]
1 Year rr_ExpenseExampleYear01 $ 298
3 Years rr_ExpenseExampleYear03 621
5 Years rr_ExpenseExampleYear05 1,069
10 Years rr_ExpenseExampleYear10 2,313
1 Year rr_ExpenseExampleNoRedemptionYear01 198
3 Years rr_ExpenseExampleNoRedemptionYear03 621
5 Years rr_ExpenseExampleNoRedemptionYear05 1,069
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,313
1 Year rr_AverageAnnualReturnYear01 8.08%
5 Years rr_AverageAnnualReturnYear05 4.83%
10 Years rr_AverageAnnualReturnYear10 5.78%
Since Inception rr_AverageAnnualReturnSinceInception 6.07%
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 29, 2006
Goldman Sachs Emerging Markets Debt Fund | Institutional  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 30 calendar days or less) rr_RedemptionFeeOverRedemption 2.00%
Management Fees rr_ManagementFeesOverAssets 0.80%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.10%
Other Expenses rr_OtherExpensesOverAssets 0.10% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.90%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.04%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.86% [4]
1 Year rr_ExpenseExampleYear01 $ 88
3 Years rr_ExpenseExampleYear03 283
5 Years rr_ExpenseExampleYear05 495
10 Years rr_ExpenseExampleYear10 $ 1,104
1 Year rr_AverageAnnualReturnYear01 10.30%
5 Years rr_AverageAnnualReturnYear05 5.95%
10 Years rr_AverageAnnualReturnYear10 6.92%
Since Inception rr_AverageAnnualReturnSinceInception 9.00%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 29, 2003
Goldman Sachs Emerging Markets Debt Fund | Investor  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 30 calendar days or less) rr_RedemptionFeeOverRedemption 2.00%
Management Fees rr_ManagementFeesOverAssets 0.80%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.19%
Other Expenses rr_OtherExpensesOverAssets 0.19% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.99%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.04%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.95% [4]
1 Year rr_ExpenseExampleYear01 $ 97
3 Years rr_ExpenseExampleYear03 311
5 Years rr_ExpenseExampleYear05 543
10 Years rr_ExpenseExampleYear10 $ 1,209
1 Year rr_AverageAnnualReturnYear01 10.20%
5 Years rr_AverageAnnualReturnYear05 5.87%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 5.99%
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 30, 2010
Goldman Sachs Emerging Markets Debt Fund | Class R6  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 30 calendar days or less) rr_RedemptionFeeOverRedemption 2.00%
Management Fees rr_ManagementFeesOverAssets 0.80%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.09%
Other Expenses rr_OtherExpensesOverAssets 0.09% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.89%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.04%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.85% [4]
1 Year rr_ExpenseExampleYear01 $ 87
3 Years rr_ExpenseExampleYear03 280
5 Years rr_ExpenseExampleYear05 489
10 Years rr_ExpenseExampleYear10 $ 1,092
1 Year rr_AverageAnnualReturnYear01 10.32% [5]
5 Years rr_AverageAnnualReturnYear05 5.96% [5]
10 Years rr_AverageAnnualReturnYear10 6.92% [5]
Since Inception rr_AverageAnnualReturnSinceInception 9.01% [5]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [5]
Goldman Sachs Emerging Markets Debt Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 30 calendar days or less) rr_RedemptionFeeOverRedemption 2.00%
Management Fees rr_ManagementFeesOverAssets 0.80%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.19%
Other Expenses rr_OtherExpensesOverAssets 0.19% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.24%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.04%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.20% [4]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
1 Year rr_ExpenseExampleYear01 369
3 Years rr_ExpenseExampleYear03 630
5 Years rr_ExpenseExampleYear05 910
10 Years rr_ExpenseExampleYear10 $ 1,709
1 Year rr_AverageAnnualReturnYear01 5.06% [6]
5 Years rr_AverageAnnualReturnYear05 4.65% [6]
10 Years rr_AverageAnnualReturnYear10 6.07% [6]
Since Inception rr_AverageAnnualReturnSinceInception 8.25% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [6]
Goldman Sachs Emerging Markets Debt Fund | Returns After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.87%
5 Years rr_AverageAnnualReturnYear05 2.42%
10 Years rr_AverageAnnualReturnYear10 3.79%
Since Inception rr_AverageAnnualReturnSinceInception 5.71%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 29, 2003
Goldman Sachs Emerging Markets Debt Fund | Returns After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.85%
5 Years rr_AverageAnnualReturnYear05 2.64%
10 Years rr_AverageAnnualReturnYear10 3.79%
Since Inception rr_AverageAnnualReturnSinceInception 5.51%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 29, 2003
Goldman Sachs Emerging Markets Debt Fund | J.P. Morgan Emerging Markets Bond Index (EMBI℠) Global Diversified Index (Gross, USD, Unhedged) (reflects no deduction for fees, expenses or taxes) | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 10.12%
5 Years rr_AverageAnnualReturnYear05 5.90%
10 Years rr_AverageAnnualReturnYear10 6.88%
Since Inception rr_AverageAnnualReturnSinceInception 8.10%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 29, 2003
Goldman Sachs Emerging Markets Debt Fund | J.P. Morgan Emerging Markets Bond Index (EMBI℠) Global Diversified Index (Gross, USD, Unhedged) (reflects no deduction for fees, expenses or taxes) | Class C  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 10.12%
5 Years rr_AverageAnnualReturnYear05 5.90%
10 Years rr_AverageAnnualReturnYear10 6.88%
Since Inception rr_AverageAnnualReturnSinceInception 7.09%
Inception Date rr_AverageAnnualReturnInceptionDate Sep. 29, 2006
Goldman Sachs Emerging Markets Debt Fund | J.P. Morgan Emerging Markets Bond Index (EMBI℠) Global Diversified Index (Gross, USD, Unhedged) (reflects no deduction for fees, expenses or taxes) | Institutional  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 10.12%
5 Years rr_AverageAnnualReturnYear05 5.90%
10 Years rr_AverageAnnualReturnYear10 6.88%
Since Inception rr_AverageAnnualReturnSinceInception 8.10%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 29, 2003
Goldman Sachs Emerging Markets Debt Fund | J.P. Morgan Emerging Markets Bond Index (EMBI℠) Global Diversified Index (Gross, USD, Unhedged) (reflects no deduction for fees, expenses or taxes) | Investor  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 10.12%
5 Years rr_AverageAnnualReturnYear05 5.90%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 6.08%
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 30, 2010
Goldman Sachs Emerging Markets Debt Fund | J.P. Morgan Emerging Markets Bond Index (EMBI℠) Global Diversified Index (Gross, USD, Unhedged) (reflects no deduction for fees, expenses or taxes) | Class R6  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 10.12% [5]
5 Years rr_AverageAnnualReturnYear05 5.90% [5]
10 Years rr_AverageAnnualReturnYear10 6.88% [5]
Since Inception rr_AverageAnnualReturnSinceInception 8.10% [5]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [5]
Goldman Sachs Emerging Markets Debt Fund | J.P. Morgan Emerging Markets Bond Index (EMBI℠) Global Diversified Index (Gross, USD, Unhedged) (reflects no deduction for fees, expenses or taxes) | Class T  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 10.12% [6]
5 Years rr_AverageAnnualReturnYear05 5.90% [6]
10 Years rr_AverageAnnualReturnYear10 6.88% [6]
Since Inception rr_AverageAnnualReturnSinceInception 8.10% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [6]
[1] A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase.
[2] The "Other Expenses" for Class R6 Shares have been restated and the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[3] The Investment Adviser has agreed to reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification, and extraordinary expenses) to 0.024% of the Fund's average daily net assets through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees.
[4] After Expense Limitation
[5] Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of the Class R6 Shares shown in the table above is that of the Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses.
[6] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
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Goldman Sachs High Yield Fund
Goldman Sachs High Yield Fund—Summary
Investment Objective
The Goldman Sachs High Yield Fund (the “Fund”) seeks a high level of current income and may also consider the potential for capital appreciation.
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 71 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 75 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees
(fees paid directly from your investment)
Shareholder Fees - Goldman Sachs High Yield Fund
Class A
Class C
Institutional
Service
Investor
Class R
Class R6
Class T
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 4.50% none none none none none none 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) [1] none 1.00% none none none none none none
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 60 calendar days or less) 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00%
[1] A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase.
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses - Goldman Sachs High Yield Fund
Class A
Class C
Institutional
Service
Investor
Class R
Class R6
Class T
Management Fees 0.67% 0.67% 0.67% 0.67% 0.67% 0.67% 0.67% 0.67%
Distribution and/or Service (12b-1) Fees 0.25% 0.75% none 0.25% none 0.50% none 0.25%
Other Expenses [1] 0.15% 0.40% 0.06% 0.31% 0.15% 0.15% 0.05% 0.15%
Service Fees none 0.25% none none none none none none
Shareholder Administration Fees none none none 0.25% none none none none
All Other Expenses 0.15% 0.15% 0.06% 0.06% 0.15% 0.15% 0.05% 0.15%
Acquired Fund Fees and Expenses 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
Total Annual Fund Operating Expenses [2] 1.08% 1.83% 0.74% 1.24% 0.83% 1.33% 0.73% 1.08%
Fee Waiver and Expense Limitation [3] (0.03%) (0.03%) none none (0.03%) (0.03%) none (0.03%)
Total Annual Fund Operating Expenses [2],[4] 1.05% 1.80% 0.74% 1.24% 0.80% 1.30% 0.73% 1.05%
[1] The "Other Expenses" for Class R6 Shares have been restated and the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[2] The "Total Annual Fund Operating Expenses" do not correlate to the ratios of net and total expenses to average net assets provided in the Financial Highlights, which reflect the operating expenses of the Fund and do not include "Acquired Fund Fees and Expenses."
[3] The Investment Adviser has agreed to (i) waive a portion of its management fee payable by the Fund in an amount equal to any management fees it earns as an investment adviser to any of the affiliated funds in which the Fund invests; and (ii) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.024% of the Fund's average daily net assets. Additionally, Goldman Sachs & Co. LLC ("Goldman Sachs"), the Fund's transfer agent, has agreed to waive a portion of its transfer agency fee (a component of "Other Expenses") equal to 0.03% as an annual percentage rate of the average daily net assets attributable to Class A, Class C, Investor and Class R Shares of the Fund. These arrangements will remain in effect through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangements without the approval of the Board of Trustees.
[4] After Fee Waiver and Expense Limitation
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Assuming complete redemption at end of period
Expense Example - Goldman Sachs High Yield Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A Shares 552 775 1,016 1,705
Class C Shares 283 573 988 2,145
Institutional Shares 76 237 411 918
Service Shares 126 393 681 1,500
Investor Shares 82 262 458 1,023
Class R Shares 132 418 726 1,599
Class R6 Shares 75 233 406 906
Class T Shares 354 582 828 1,532
Assuming no redemption
Expense Example, No Redemption
1 Year
3 Years
5 Years
10 Years
Goldman Sachs High Yield Fund | Class C Shares | USD ($) 183 573 988 2,145
Portfolio Turnover
The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 93% of the average value of its portfolio.
Principal Strategy
The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in high-yield, fixed income securities that, at the time of purchase, are non-investment grade securities. Non-investment grade securities are securities rated BB+, Ba1 or below by a nationally recognized statistical rating organization (“NRSRO”), or, if unrated, determined by the Investment Adviser to be of comparable credit quality, and are commonly referred to as “junk bonds.” The Fund may invest in all types of fixed income securities, including loan participations.

The Fund may invest up to 25% of its total assets in obligations of domestic and foreign issuers which are denominated in currencies other than the U.S. dollar and in securities of issuers located in emerging countries denominated in any currency. However, to the extent that the Investment Adviser has entered into transactions that are intended to hedge the Fund’s position in a non-dollar denominated obligation against currency risk, such obligation will not be counted when calculating compliance with the 25% limitation on obligations in non-U.S. currency.

Under normal market conditions, the Fund may invest up to 20% of its Net Assets in investment grade fixed income securities, including securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises (“U.S. Government Securities”).

The Fund may invest in derivatives, including (i) credit default swap indices (or CDX) for hedging purposes or to seek to increase total return, and (ii) interest rate futures, forwards and swaps to manage the portfolio’s duration.

The Fund’s target duration range under normal interest rate conditions is expected to approximate that of the Bloomberg Barclays U.S. High-Yield 2% Issuer Capped Bond Index, plus or minus 2.5 years, and over the last five years ended June 30, 2017, the duration of this Index has ranged between 3.85 and 4.41 years. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

The Fund’s portfolio managers seek to build a portfolio consisting of their “best ideas” across the high yield securities market consistent with the Fund’s overall risk budget and the views of the Investment Adviser’s Global Fixed Income top-down teams. As market conditions change, the volatility and attractiveness of sectors, securities and strategies can change as well. To optimize the Fund’s risk/return potential within its long-term risk budget, the portfolio managers may dynamically adjust the mix of top-down and bottom-up strategies in the Fund’s portfolio.

The Fund’s benchmark index is the Bloomberg Barclays U.S. High-Yield 2% Issuer Capped Bond Index.
Principal Risks of the Fund
Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.
  • Credit/Default Risk.  An issuer or guarantor of fixed income securities or instruments held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant deterioration in net asset value (“NAV”). These risks are more pronounced in connection with the Fund’s investments in non-investment grade fixed income securities.
  • Derivatives Risk.  The Fund’s use of credit default swap indices (or CDX), interest rate futures, forwards and swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligations. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund’s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund’s ability to invest in derivatives and other instruments and adversely affect the Fund’s performance and ability to pursue its investment objectives.
  • Foreign Risk.  Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls, sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States or other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time.
  • Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rate are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.
  • Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.
  • Liquidity Risk.  The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests or other reasons. To meet redemption requests, the Fund may be forced to sell securities at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.
  • Loan-Related Investments Risk.  In addition to risks generally associated with debt investments, loan-related investments such as loan participations and assignments are subject to other risks. Although a loan obligation may be fully collateralized at the time of acquisition, the collateral may decline in value, be relatively illiquid, or lose all or substantially all of its value subsequent to investment. Many loan investments are subject to legal or contractual restrictions on resale and may be relatively illiquid and difficult to value. There is less readily available, reliable information about most loan investments than is the case for many other types of securities. Substantial increases in interest rates may cause an increase in loan obligation defaults. With respect to loan participations, the Fund may not always have direct recourse against a borrower if the borrower fails to pay scheduled principal and/or interest; may be subject to greater delays, expenses and risks than if the Fund had purchased a direct obligation of the borrower; and may be regarded as the creditor of the agent lender (rather than the borrower), subjecting the Fund to the creditworthiness of that lender as well. Investors in loans, such as the Fund, may not be entitled to rely on the anti-fraud protections of the federal securities laws, although they may be entitled to certain contractual remedies. The market for loan obligations may be subject to irregular trading activity, wide bid/ask spreads and extended trade settlement periods. Because transactions in many loans are subject to extended trade settlement periods, the Fund may not receive the proceeds from the sale of a loan for a period after the sale. As a result, sale proceeds related to the sale of loans may not be available to make additional investments or to meet the Fund’s redemption obligations for a period after the sale of the loans, and, as a result, the Fund may have to sell other investments or engage in borrowing transactions, such as borrowing from its credit facility, if necessary to raise cash to meet its obligations.

    Senior loans hold the most senior position in the capital structure of a business entity, and are typically secured with specific collateral, but are nevertheless usually rated below investment grade. Because second lien loans are subordinated or unsecured and thus lower in priority of payment to senior loans, they are subject to the additional risk that the cash flow of the borrower and property securing the loan or debt, if any, may be insufficient to meet scheduled payments after giving effect to the senior secured obligations of the borrower. Second lien loans generally have greater price volatility than senior loans and may be less liquid.
  • Non-Investment Grade Fixed Income Securities Risk.  Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as “junk bonds”) are considered speculative and are subject to the increased risk of an issuer’s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity.
Performance
The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart
The total return for Class A Shares for the six-month period ended
June 30, 2017 was 3.86%.

Best Quarter
Q2 ‘09              +18.40%

Worst Quarter
Q4 ‘08              –18.79%
AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Average Annual Total Returns - Goldman Sachs High Yield Fund
1 Year
5 Years
10 Years
Since Inception
Inception Date
Class A Shares 8.55% 5.36% 5.18% 6.01% Aug. 01, 1997
Class A Shares | Returns After Taxes on Distributions 6.18% 2.54% 2.30% 2.84% Aug. 01, 1997
Class A Shares | Returns After Taxes on Distributions and Sale of Fund Shares 4.88% 3.01% 2.81% 3.22% Aug. 01, 1997
Class A Shares | Bloomberg Barclays U.S. High-Yield 2% Issuer Capped Bond Index (reflects no deduction for fees or expenses) 17.08% 7.36% 7.55% 6.84% Aug. 01, 1997
Class C Shares 11.51% 5.51% 4.87% 5.49% Aug. 15, 1997
Class C Shares | Bloomberg Barclays U.S. High-Yield 2% Issuer Capped Bond Index (reflects no deduction for fees or expenses) 17.08% 7.36% 7.55% 6.89% [1] Aug. 15, 1997
Institutional Shares 13.76% 6.65% 6.02% 6.64% Aug. 01, 1997
Institutional Shares | Bloomberg Barclays U.S. High-Yield 2% Issuer Capped Bond Index (reflects no deduction for fees or expenses) 17.08% 7.36% 7.55% 6.84% Aug. 01, 1997
Service Shares 13.22% 6.16% 5.50% 6.11% Aug. 01, 1997
Service Shares | Bloomberg Barclays U.S. High-Yield 2% Issuer Capped Bond Index (reflects no deduction for fees or expenses) 17.08% 7.36% 7.55% 6.84% Aug. 01, 1997
Investor Shares 13.84% 6.59% 6.39% Nov. 30, 2007
Investor Shares | Bloomberg Barclays U.S. High-Yield 2% Issuer Capped Bond Index (reflects no deduction for fees or expenses) 17.08% 7.36% 8.11% Nov. 30, 2007
Class R Shares 13.12% 6.03% 5.83% Nov. 30, 2007
Class R Shares | Bloomberg Barclays U.S. High-Yield 2% Issuer Capped Bond Index (reflects no deduction for fees or expenses) 17.08% 7.36% 8.11% Nov. 30, 2007
Class R6 Shares [2] 13.77% 6.68% 6.03% 6.65% Jul. 31, 2015
Class R6 Shares | Bloomberg Barclays U.S. High-Yield 2% Issuer Capped Bond Index (reflects no deduction for fees or expenses) [2] 17.08% 7.36% 7.55% 6.84% Jul. 31, 2015
Class T Shares [3] 8.55% 5.36% 5.18% 6.01% Jul. 28, 2017
Class T Shares | Bloomberg Barclays U.S. High-Yield 2% Issuer Capped Bond Index (reflects no deduction for fees or expenses) [3] 17.08% 7.36% 7.55% 6.84% Jul. 28, 2017
[1] Return for the Index is calculated from September 1, 1997, the commencement of the month nearest to the Class C Shares inception date.
[2] Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of the Class R6 Shares shown in the table above is that of the Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses.
[3] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

XML 28 R49.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName GOLDMAN SACHS TRUST
Prospectus Date rr_ProspectusDate Jul. 28, 2017
Goldman Sachs High Yield Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Goldman Sachs High Yield Fund—Summary
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Goldman Sachs High Yield Fund (the “Fund”) seeks a high level of current income and may also consider the potential for capital appreciation.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 71 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 75 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees
(fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination July 28, 2018
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 93% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 93.00%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 71 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 75 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent The "Other Expenses" for Class R6 Shares have been restated
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees The "Total Annual Fund Operating Expenses" do not correlate to the ratios of net and total expenses to average net assets provided in the Financial Highlights, which reflect the operating expenses of the Fund and do not include "Acquired Fund Fees and Expenses."
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption Assuming complete redemption at end of period
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption Assuming no redemption
Strategy [Heading] rr_StrategyHeading Principal Strategy
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in high-yield, fixed income securities that, at the time of purchase, are non-investment grade securities. Non-investment grade securities are securities rated BB+, Ba1 or below by a nationally recognized statistical rating organization (“NRSRO”), or, if unrated, determined by the Investment Adviser to be of comparable credit quality, and are commonly referred to as “junk bonds.” The Fund may invest in all types of fixed income securities, including loan participations.

The Fund may invest up to 25% of its total assets in obligations of domestic and foreign issuers which are denominated in currencies other than the U.S. dollar and in securities of issuers located in emerging countries denominated in any currency. However, to the extent that the Investment Adviser has entered into transactions that are intended to hedge the Fund’s position in a non-dollar denominated obligation against currency risk, such obligation will not be counted when calculating compliance with the 25% limitation on obligations in non-U.S. currency.

Under normal market conditions, the Fund may invest up to 20% of its Net Assets in investment grade fixed income securities, including securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises (“U.S. Government Securities”).

The Fund may invest in derivatives, including (i) credit default swap indices (or CDX) for hedging purposes or to seek to increase total return, and (ii) interest rate futures, forwards and swaps to manage the portfolio’s duration.

The Fund’s target duration range under normal interest rate conditions is expected to approximate that of the Bloomberg Barclays U.S. High-Yield 2% Issuer Capped Bond Index, plus or minus 2.5 years, and over the last five years ended June 30, 2017, the duration of this Index has ranged between 3.85 and 4.41 years. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

The Fund’s portfolio managers seek to build a portfolio consisting of their “best ideas” across the high yield securities market consistent with the Fund’s overall risk budget and the views of the Investment Adviser’s Global Fixed Income top-down teams. As market conditions change, the volatility and attractiveness of sectors, securities and strategies can change as well. To optimize the Fund’s risk/return potential within its long-term risk budget, the portfolio managers may dynamically adjust the mix of top-down and bottom-up strategies in the Fund’s portfolio.

The Fund’s benchmark index is the Bloomberg Barclays U.S. High-Yield 2% Issuer Capped Bond Index.
Risk [Heading] rr_RiskHeading Principal Risks of the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.
  • Credit/Default Risk.  An issuer or guarantor of fixed income securities or instruments held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant deterioration in net asset value (“NAV”). These risks are more pronounced in connection with the Fund’s investments in non-investment grade fixed income securities.
  • Derivatives Risk.  The Fund’s use of credit default swap indices (or CDX), interest rate futures, forwards and swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligations. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund’s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund’s ability to invest in derivatives and other instruments and adversely affect the Fund’s performance and ability to pursue its investment objectives.
  • Foreign Risk.  Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls, sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States or other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time.
  • Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rate are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.
  • Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.
  • Liquidity Risk.  The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests or other reasons. To meet redemption requests, the Fund may be forced to sell securities at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.
  • Loan-Related Investments Risk.  In addition to risks generally associated with debt investments, loan-related investments such as loan participations and assignments are subject to other risks. Although a loan obligation may be fully collateralized at the time of acquisition, the collateral may decline in value, be relatively illiquid, or lose all or substantially all of its value subsequent to investment. Many loan investments are subject to legal or contractual restrictions on resale and may be relatively illiquid and difficult to value. There is less readily available, reliable information about most loan investments than is the case for many other types of securities. Substantial increases in interest rates may cause an increase in loan obligation defaults. With respect to loan participations, the Fund may not always have direct recourse against a borrower if the borrower fails to pay scheduled principal and/or interest; may be subject to greater delays, expenses and risks than if the Fund had purchased a direct obligation of the borrower; and may be regarded as the creditor of the agent lender (rather than the borrower), subjecting the Fund to the creditworthiness of that lender as well. Investors in loans, such as the Fund, may not be entitled to rely on the anti-fraud protections of the federal securities laws, although they may be entitled to certain contractual remedies. The market for loan obligations may be subject to irregular trading activity, wide bid/ask spreads and extended trade settlement periods. Because transactions in many loans are subject to extended trade settlement periods, the Fund may not receive the proceeds from the sale of a loan for a period after the sale. As a result, sale proceeds related to the sale of loans may not be available to make additional investments or to meet the Fund’s redemption obligations for a period after the sale of the loans, and, as a result, the Fund may have to sell other investments or engage in borrowing transactions, such as borrowing from its credit facility, if necessary to raise cash to meet its obligations.

    Senior loans hold the most senior position in the capital structure of a business entity, and are typically secured with specific collateral, but are nevertheless usually rated below investment grade. Because second lien loans are subordinated or unsecured and thus lower in priority of payment to senior loans, they are subject to the additional risk that the cash flow of the borrower and property securing the loan or debt, if any, may be insufficient to meet scheduled payments after giving effect to the senior secured obligations of the borrower. Second lien loans generally have greater price volatility than senior loans and may be less liquid.
  • Non-Investment Grade Fixed Income Securities Risk.  Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as “junk bonds”) are considered speculative and are subject to the increased risk of an issuer’s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity.
Risk Lose Money [Text] rr_RiskLoseMoney Loss of money is a risk of investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and Class T Shares compare to those of a broad-based securities market index.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess As of the date of the Prospectus, Class T Shares have not commenced operations.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.gsamfunds.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The total return for Class A Shares for the six-month period ended
June 30, 2017 was 3.86%.

Best Quarter
Q2 ‘09              +18.40%

Worst Quarter
Q4 ‘08              –18.79%
Performance Table Heading rr_PerformanceTableHeading AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Performance Table Does Reflect Sales Loads rr_PerformanceTableDoesReflectSalesLoads Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Goldman Sachs High Yield Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 4.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 60 calendar days or less) rr_RedemptionFeeOverRedemption 2.00%
Management Fees rr_ManagementFeesOverAssets 0.67%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.15%
Other Expenses rr_OtherExpensesOverAssets 0.15% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.08% [3]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.03%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.05% [3],[5]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 100,000
1 Year rr_ExpenseExampleYear01 552
3 Years rr_ExpenseExampleYear03 775
5 Years rr_ExpenseExampleYear05 1,016
10 Years rr_ExpenseExampleYear10 $ 1,705
2007 rr_AnnualReturn2007 1.37%
2008 rr_AnnualReturn2008 (27.50%)
2009 rr_AnnualReturn2009 50.03%
2010 rr_AnnualReturn2010 13.33%
2011 rr_AnnualReturn2011 2.23%
2012 rr_AnnualReturn2012 15.40%
2013 rr_AnnualReturn2013 7.50%
2014 rr_AnnualReturn2014 1.71%
2015 rr_AnnualReturn2015 (5.22%)
2016 rr_AnnualReturn2016 13.58%
Year to Date Return, Label rr_YearToDateReturnLabel total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 3.86%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 18.40%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (18.79%)
1 Year rr_AverageAnnualReturnYear01 8.55%
5 Years rr_AverageAnnualReturnYear05 5.36%
10 Years rr_AverageAnnualReturnYear10 5.18%
Since Inception rr_AverageAnnualReturnSinceInception 6.01%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 01, 1997
Goldman Sachs High Yield Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 60 calendar days or less) rr_RedemptionFeeOverRedemption 2.00%
Management Fees rr_ManagementFeesOverAssets 0.67%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.15%
Other Expenses rr_OtherExpensesOverAssets 0.40% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.83% [3]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.03%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.80% [3],[5]
1 Year rr_ExpenseExampleYear01 $ 283
3 Years rr_ExpenseExampleYear03 573
5 Years rr_ExpenseExampleYear05 988
10 Years rr_ExpenseExampleYear10 2,145
1 Year rr_ExpenseExampleNoRedemptionYear01 183
3 Years rr_ExpenseExampleNoRedemptionYear03 573
5 Years rr_ExpenseExampleNoRedemptionYear05 988
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,145
1 Year rr_AverageAnnualReturnYear01 11.51%
5 Years rr_AverageAnnualReturnYear05 5.51%
10 Years rr_AverageAnnualReturnYear10 4.87%
Since Inception rr_AverageAnnualReturnSinceInception 5.49%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 15, 1997
Goldman Sachs High Yield Fund | Institutional  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 60 calendar days or less) rr_RedemptionFeeOverRedemption 2.00%
Management Fees rr_ManagementFeesOverAssets 0.67%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.06%
Other Expenses rr_OtherExpensesOverAssets 0.06% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.74% [3]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets none [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.74% [3],[5]
1 Year rr_ExpenseExampleYear01 $ 76
3 Years rr_ExpenseExampleYear03 237
5 Years rr_ExpenseExampleYear05 411
10 Years rr_ExpenseExampleYear10 $ 918
1 Year rr_AverageAnnualReturnYear01 13.76%
5 Years rr_AverageAnnualReturnYear05 6.65%
10 Years rr_AverageAnnualReturnYear10 6.02%
Since Inception rr_AverageAnnualReturnSinceInception 6.64%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 01, 1997
Goldman Sachs High Yield Fund | Service  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 60 calendar days or less) rr_RedemptionFeeOverRedemption 2.00%
Management Fees rr_ManagementFeesOverAssets 0.67%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets 0.25%
All Other Expenses rr_Component3OtherExpensesOverAssets 0.06%
Other Expenses rr_OtherExpensesOverAssets 0.31% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.24% [3]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets none [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.24% [3],[5]
1 Year rr_ExpenseExampleYear01 $ 126
3 Years rr_ExpenseExampleYear03 393
5 Years rr_ExpenseExampleYear05 681
10 Years rr_ExpenseExampleYear10 $ 1,500
1 Year rr_AverageAnnualReturnYear01 13.22%
5 Years rr_AverageAnnualReturnYear05 6.16%
10 Years rr_AverageAnnualReturnYear10 5.50%
Since Inception rr_AverageAnnualReturnSinceInception 6.11%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 01, 1997
Goldman Sachs High Yield Fund | Investor  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 60 calendar days or less) rr_RedemptionFeeOverRedemption 2.00%
Management Fees rr_ManagementFeesOverAssets 0.67%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.15%
Other Expenses rr_OtherExpensesOverAssets 0.15% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.83% [3]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.03%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.80% [3],[5]
1 Year rr_ExpenseExampleYear01 $ 82
3 Years rr_ExpenseExampleYear03 262
5 Years rr_ExpenseExampleYear05 458
10 Years rr_ExpenseExampleYear10 $ 1,023
1 Year rr_AverageAnnualReturnYear01 13.84%
5 Years rr_AverageAnnualReturnYear05 6.59%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 6.39%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2007
Goldman Sachs High Yield Fund | Class R  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 60 calendar days or less) rr_RedemptionFeeOverRedemption 2.00%
Management Fees rr_ManagementFeesOverAssets 0.67%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.15%
Other Expenses rr_OtherExpensesOverAssets 0.15% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.33% [3]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.03%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.30% [3],[5]
1 Year rr_ExpenseExampleYear01 $ 132
3 Years rr_ExpenseExampleYear03 418
5 Years rr_ExpenseExampleYear05 726
10 Years rr_ExpenseExampleYear10 $ 1,599
1 Year rr_AverageAnnualReturnYear01 13.12%
5 Years rr_AverageAnnualReturnYear05 6.03%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 5.83%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2007
Goldman Sachs High Yield Fund | Class R6  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 60 calendar days or less) rr_RedemptionFeeOverRedemption 2.00%
Management Fees rr_ManagementFeesOverAssets 0.67%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.05%
Other Expenses rr_OtherExpensesOverAssets 0.05% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.73% [3]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets none [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.73% [3],[5]
1 Year rr_ExpenseExampleYear01 $ 75
3 Years rr_ExpenseExampleYear03 233
5 Years rr_ExpenseExampleYear05 406
10 Years rr_ExpenseExampleYear10 $ 906
1 Year rr_AverageAnnualReturnYear01 13.77% [6]
5 Years rr_AverageAnnualReturnYear05 6.68% [6]
10 Years rr_AverageAnnualReturnYear10 6.03% [6]
Since Inception rr_AverageAnnualReturnSinceInception 6.65% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [6]
Goldman Sachs High Yield Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 60 calendar days or less) rr_RedemptionFeeOverRedemption 2.00%
Management Fees rr_ManagementFeesOverAssets 0.67%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.15%
Other Expenses rr_OtherExpensesOverAssets 0.15% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.08% [3]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.03%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.05% [3],[5]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
1 Year rr_ExpenseExampleYear01 354
3 Years rr_ExpenseExampleYear03 582
5 Years rr_ExpenseExampleYear05 828
10 Years rr_ExpenseExampleYear10 $ 1,532
1 Year rr_AverageAnnualReturnYear01 8.55% [7]
5 Years rr_AverageAnnualReturnYear05 5.36% [7]
10 Years rr_AverageAnnualReturnYear10 5.18% [7]
Since Inception rr_AverageAnnualReturnSinceInception 6.01% [7]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [7]
Goldman Sachs High Yield Fund | Returns After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 6.18%
5 Years rr_AverageAnnualReturnYear05 2.54%
10 Years rr_AverageAnnualReturnYear10 2.30%
Since Inception rr_AverageAnnualReturnSinceInception 2.84%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 01, 1997
Goldman Sachs High Yield Fund | Returns After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 4.88%
5 Years rr_AverageAnnualReturnYear05 3.01%
10 Years rr_AverageAnnualReturnYear10 2.81%
Since Inception rr_AverageAnnualReturnSinceInception 3.22%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 01, 1997
Goldman Sachs High Yield Fund | Bloomberg Barclays U.S. High-Yield 2% Issuer Capped Bond Index (reflects no deduction for fees or expenses) | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 17.08%
5 Years rr_AverageAnnualReturnYear05 7.36%
10 Years rr_AverageAnnualReturnYear10 7.55%
Since Inception rr_AverageAnnualReturnSinceInception 6.84%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 01, 1997
Goldman Sachs High Yield Fund | Bloomberg Barclays U.S. High-Yield 2% Issuer Capped Bond Index (reflects no deduction for fees or expenses) | Class C  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 17.08%
5 Years rr_AverageAnnualReturnYear05 7.36%
10 Years rr_AverageAnnualReturnYear10 7.55%
Since Inception rr_AverageAnnualReturnSinceInception 6.89% [8]
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 15, 1997
Goldman Sachs High Yield Fund | Bloomberg Barclays U.S. High-Yield 2% Issuer Capped Bond Index (reflects no deduction for fees or expenses) | Institutional  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 17.08%
5 Years rr_AverageAnnualReturnYear05 7.36%
10 Years rr_AverageAnnualReturnYear10 7.55%
Since Inception rr_AverageAnnualReturnSinceInception 6.84%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 01, 1997
Goldman Sachs High Yield Fund | Bloomberg Barclays U.S. High-Yield 2% Issuer Capped Bond Index (reflects no deduction for fees or expenses) | Service  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 17.08%
5 Years rr_AverageAnnualReturnYear05 7.36%
10 Years rr_AverageAnnualReturnYear10 7.55%
Since Inception rr_AverageAnnualReturnSinceInception 6.84%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 01, 1997
Goldman Sachs High Yield Fund | Bloomberg Barclays U.S. High-Yield 2% Issuer Capped Bond Index (reflects no deduction for fees or expenses) | Investor  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 17.08%
5 Years rr_AverageAnnualReturnYear05 7.36%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 8.11%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2007
Goldman Sachs High Yield Fund | Bloomberg Barclays U.S. High-Yield 2% Issuer Capped Bond Index (reflects no deduction for fees or expenses) | Class R  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 17.08%
5 Years rr_AverageAnnualReturnYear05 7.36%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 8.11%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2007
Goldman Sachs High Yield Fund | Bloomberg Barclays U.S. High-Yield 2% Issuer Capped Bond Index (reflects no deduction for fees or expenses) | Class R6  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 17.08% [6]
5 Years rr_AverageAnnualReturnYear05 7.36% [6]
10 Years rr_AverageAnnualReturnYear10 7.55% [6]
Since Inception rr_AverageAnnualReturnSinceInception 6.84% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [6]
Goldman Sachs High Yield Fund | Bloomberg Barclays U.S. High-Yield 2% Issuer Capped Bond Index (reflects no deduction for fees or expenses) | Class T  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 17.08% [7]
5 Years rr_AverageAnnualReturnYear05 7.36% [7]
10 Years rr_AverageAnnualReturnYear10 7.55% [7]
Since Inception rr_AverageAnnualReturnSinceInception 6.84% [7]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [7]
[1] A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase.
[2] The "Other Expenses" for Class R6 Shares have been restated and the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[3] The "Total Annual Fund Operating Expenses" do not correlate to the ratios of net and total expenses to average net assets provided in the Financial Highlights, which reflect the operating expenses of the Fund and do not include "Acquired Fund Fees and Expenses."
[4] The Investment Adviser has agreed to (i) waive a portion of its management fee payable by the Fund in an amount equal to any management fees it earns as an investment adviser to any of the affiliated funds in which the Fund invests; and (ii) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.024% of the Fund's average daily net assets. Additionally, Goldman Sachs & Co. LLC ("Goldman Sachs"), the Fund's transfer agent, has agreed to waive a portion of its transfer agency fee (a component of "Other Expenses") equal to 0.03% as an annual percentage rate of the average daily net assets attributable to Class A, Class C, Investor and Class R Shares of the Fund. These arrangements will remain in effect through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangements without the approval of the Board of Trustees.
[5] After Fee Waiver and Expense Limitation
[6] Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of the Class R6 Shares shown in the table above is that of the Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses.
[7] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
[8] Return for the Index is calculated from September 1, 1997, the commencement of the month nearest to the Class C Shares inception date.
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Goldman Sachs High Yield Floating Rate Fund
Goldman Sachs High Yield Floating Rate Fund—Summary
Investment Objective
The Goldman Sachs High Yield Floating Rate Fund (the “Fund”) seeks a high level of current income.
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 71 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 75 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees
(fees paid directly from your investment)
Shareholder Fees - Goldman Sachs High Yield Floating Rate Fund
Class A
Class C
Institutional
Investor
Class R
Class T
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 2.25% none none none none 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) [1] none 1.00% none none none none
[1] A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase.
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses - Goldman Sachs High Yield Floating Rate Fund
Class A
Class C
Institutional
Investor
Class R
Class T
Management Fees 0.55% 0.55% 0.55% 0.55% 0.55% 0.55%
Distribution and/or Service (12b-1) Fees 0.25% 0.75% none none 0.50% 0.25%
Other Expenses [1] 0.17% 0.42% 0.08% 0.17% 0.17% 0.17%
Service Fees none 0.25% none none none none
All Other Expenses 0.17% 0.17% 0.08% 0.17% 0.17% 0.17%
Acquired Fund Fees and Expenses 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
Total Annual Fund Operating Expenses [2] 0.99% 1.74% 0.65% 0.74% 1.24% 0.99%
Fee Waiver and Expense Limitation [3] (0.02%) (0.02%) (0.02%) (0.02%) (0.02%) (0.02%)
Total Annual Fund Operating Expenses [2],[4] 0.97% 1.72% 0.63% 0.72% 1.22% 0.97%
[1] The "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[2] The "Total Annual Fund Operating Expenses" do not correlate to the ratios of net and total expenses to average net assets provided in the Financial Highlights, which reflect the operating expenses of the Fund and do not include "Acquired Fund Fees and Expenses."
[3] The Investment Adviser has agreed to (i) waive a portion of its management fee payable by the Fund in an amount equal to any management fees it earns as an investment adviser to any of the affiliated funds in which the Fund invests; and (ii) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.104% of the Fund's average daily net assets. These arrangements will remain in effect through at least July 28, 2018, and prior to such date, the Investment Adviser may not terminate the arrangements without the approval of the Board of Trustees.
[4] After Fee Waiver and Expense Limitation
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Investor, Class R and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Investor, Class R and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Assuming complete redemption at end of period
Expense Example - Goldman Sachs High Yield Floating Rate Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A Shares 322 531 758 1,409
Class C Shares 275 546 942 2,050
Institutional Shares 64 206 360 809
Investor Shares 74 235 410 917
Class R Shares 124 391 679 1,498
Class T Shares 346 555 782 1,431
Assuming no redemption
Expense Example, No Redemption
1 Year
3 Years
5 Years
10 Years
Goldman Sachs High Yield Floating Rate Fund | Class C Shares | USD ($) 175 546 942 2,050
Portfolio Turnover
The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 55% of the average value of its portfolio.
Principal Strategy
The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in domestic or foreign floating rate loans and other floating or variable rate obligations rated below investment grade. Non-investment grade obligations are those rated BB+, Ba1 or below by a nationally recognized statistical rating organization (“NRSRO”), or, if unrated, determined by the Investment Adviser to be of comparable credit quality, and are commonly referred to as “junk bonds.”

The Fund’s investments in floating and variable rate obligations may include, without limitation, senior secured loans (including assignments and participations), second lien loans, senior unsecured and subordinated loans, senior and subordinated corporate debt obligations (such as bonds, debentures, notes and commercial paper), debt issued by governments, their agencies and instrumentalities, and debt issued by central banks. The Fund may invest indirectly in loans by purchasing participations or sub-participations from financial institutions. Participations and sub-participations represent the right to receive a portion of the principal of, and all of the interest relating to such portion of, the applicable loan. The Fund expects to invest principally in the U.S. loan market and, to a lesser extent, in the European loan market. The Fund may also invest in other loan markets, although it does not currently intend to do so.

Under normal conditions, the Fund may invest up to 20% of its Net Assets in fixed income instruments, regardless of rating, including fixed rate corporate bonds, government bonds, convertible debt obligations, and mezzanine fixed income instruments. The Fund may also invest in floating or variable rate instruments that are rated investment grade and in preferred stock, repurchase agreements and cash securities.

The Fund may also invest in derivative instruments. Derivatives are instruments that have a value based on another instrument, exchange rate or index. The Fund’s investments in derivatives may include credit default swaps on credit and loan indices, forward contracts and total return swaps, among others. The Fund may use currency management techniques, such as forward foreign currency contracts, for hedging or non-hedging purposes. The Fund may invest in interest rate futures and swaps to manage the portfolio’s duration. Derivatives that provide exposure to floating or variable rate loans or obligations rated below investment grade are counted towards the Fund’s 80% policy.

The Fund’s target duration range under normal interest rate conditions is expected to approximate that of the Credit Suisse Leveraged Loan Index, plus or minus one year, and over the last five years ended June 30, 2017, the duration of the Index has ranged between 0.09 and 1.76 years. The Fund’s investments in floating rate obligations will generally have short to intermediate maturities (approximately 4-7 years). “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

The Fund’s investments are selected using a bottom-up analysis that incorporates fundamental research, a focus on market conditions and pricing trends, quantitative research, and news or market events. The selection of individual investments is based on the overall risk and return profile of the investment taking into account liquidity, structural complexity, cash flow uncertainty and downside potential. Research analysts and portfolio managers systematically assess portfolio positions, taking into consideration, among other factors, broader macroeconomic conditions and industry and company-specific financial performance and outlook. Based upon this analysis, the Investment Adviser will sell positions determined to be overvalued and reposition the portfolio in more attractive investment opportunities on a relative basis given the current climate.

The Fund’s benchmark index is the Credit Suisse Leveraged Loan Index.
Principal Risks of the Fund
Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.
  • Conflict of Interest Risk.  Affiliates of the Investment Adviser may participate in the primary and secondary market for loan obligations. Because of limitations imposed by applicable law, the presence of the Investment Adviser’s affiliates in the loan obligations market may restrict the Fund’s ability to acquire some loan obligations or affect the timing or price of such acquisitions. Also, because the Investment Adviser may wish to invest in the publicly traded securities of a borrower, it may not have access to material non-public information regarding the borrower to which other lenders have access.
  • Credit/Default Risk.  An issuer or guarantor of fixed income securities or instruments held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant deterioration in net asset value (“NAV”). These risks are more pronounced in connection with the Fund’s investments in non-investment grade fixed income securities.
  • Derivatives Risk.  The Fund's use of credit default swaps, total return swaps, futures, forwards and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligations. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund's use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund's ability to invest in derivatives and other instruments and adversely affect the Fund's performance and ability to pursue its investment objectives.
  • Floating and Variable Rate Obligations Risk.  For floating and variable rate obligations, there may be a lag between an actual change in the underlying interest rate benchmark and the reset time for an interest payment of such an obligation, which could harm or benefit the Fund, depending on the interest rate environment or other circumstances. In a rising interest rate environment, for example, a floating or variable rate obligation that does not reset immediately would prevent the Fund from taking full advantage of rising interest rates in a timely manner. However, in a declining interest rate environment, the Fund may benefit from a lag due to an obligation’s interest rate payment not being immediately impacted by a decline in interest rates.

    Certain floating and variable rate obligations have an interest rate floor feature, which prevents the interest rate payable by the security from dropping below a specified level as compared to a reference interest rate (the “reference rate”), such as LIBOR. Such a floor protects the Fund from losses resulting from a decrease in the reference rate below the specified level. However, if the reference rate is below the floor, there will be a lag between a rise in the reference rate and a rise in the interest rate payable by the obligation, and the Fund may not benefit from increasing interest rates for a significant amount of time.
  • Foreign Risk.  Foreign investments may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls, sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States or other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of instruments denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time.
  • Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.
  • Liquidity Risk.  The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests or other reasons. To meet redemption requests, the Fund may be forced to sell investments at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.
  • Loan-Related Investments Risk.  In addition to risks generally associated with debt investments, loan-related investments such as loan participations and assignments are subject to other risks. Although a loan obligation may be fully collateralized at the time of acquisition, the collateral may decline in value, be relatively illiquid, or lose all or substantially all of its value subsequent to investment. Many loan investments are subject to legal or contractual restrictions on resale and may be relatively illiquid and difficult to value. There is less readily available, reliable information about most loan investments than is the case for many other types of securities. Substantial increases in interest rates may cause an increase in loan obligation defaults. With respect to loan participations, the Fund may not always have direct recourse against a borrower if the borrower fails to pay scheduled principal and/or interest; may be subject to greater delays, expenses and risks than if the Fund had purchased a direct obligation of the borrower; and may be regarded as the creditor of the agent lender (rather than the borrower), subjecting the Fund to the creditworthiness of that lender as well. Investors in loans, such as the Fund, may not be entitled to rely on the anti-fraud protections of the federal securities laws, although they may be entitled to certain contractual remedies. The market for loan obligations may be subject to irregular trading activity, wide bid/ask spreads and extended trade settlement periods. Because transactions in many loans are subject to extended trade settlement periods, the Fund may not receive the proceeds from the sale of a loan for a period after the sale. As a result, sale proceeds related to the sale of loans may not be available to make additional investments or to meet the Fund’s redemption obligations for a period after the sale of the loans, and, as a result, the Fund may have to sell other investments or engage in borrowing transactions, such as borrowing from its credit facility, if necessary to raise cash to meet its obligations.

    Senior loans hold the most senior position in the capital structure of a business entity, and are typically secured with specific collateral, but are nevertheless usually rated below investment grade. Because second lien loans are subordinated or unsecured and thus lower in priority of payment to senior loans, they are subject to the additional risk that the cash flow of the borrower and property securing the loan or debt, if any, may be insufficient to meet scheduled payments after giving effect to the senior secured obligations of the borrower. Second lien loans generally have greater price volatility than senior loans and may be less liquid.
  • Market Risk.  The market value of the securities in which the Fund invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/or general economic conditions throughout the world due to increasingly interconnected global economies and financial markets.
  • Non-Investment Grade Fixed Income Securities Risk.  Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as “junk bonds”) are considered speculative and are subject to the increased risk of an issuer’s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity.
Performance
The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Investor, Class R and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart
The total return for Class A Shares for the six-month
period ended June 30, 2017 was 1.49%.

Best Quarter
Q1 ‘12              +2.66%

Worst Quarter
Q4 ‘15              –1.77%
AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Average Annual Total Returns - Goldman Sachs High Yield Floating Rate Fund
1 Year
5 Years
Since Inception
Inception Date
Class A Shares 5.45% 3.26% 2.75% Mar. 31, 2011
Class A Shares | Returns After Taxes on Distributions 3.65% 1.70% 1.26% Mar. 31, 2011
Class A Shares | Returns After Taxes on Distributions and Sale of Fund Shares 3.05% 1.81% 1.46% Mar. 31, 2011
Class C Shares 5.97% 2.97% 2.39% Mar. 31, 2011
Institutional Shares 8.28% 4.10% 3.52% Mar. 31, 2011
Investor Shares 8.07% 4.00% 3.43% Mar. 31, 2011
Class R Shares 7.54% 3.47% 2.90% Mar. 31, 2011
Class T Shares [1] 5.23% 3.20% 2.70% Jul. 28, 2017
Credit Suisse Leveraged Loan Index (reflects no deduction for fees or expenses) [2] 10.79% 5.32% 4.36%  
[1] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has been adjusted to reflect the higher maximum sales charge (load) imposed on purchases of Class T Shares. Class A Shares had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class A Shares impose a lower maximum sales charge (load) on purchases.
[2] Effective October 1, 2016, the Credit Suisse Leveraged Loan Index replaced the Bloomberg Barclays U.S. High Yield Loans Index as the Fund's benchmark because the Bloomberg Barclays U.S. High Yield Loans Index was discontinued.
The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 31 R57.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName GOLDMAN SACHS TRUST
Prospectus Date rr_ProspectusDate Jul. 28, 2017
Goldman Sachs High Yield Floating Rate Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Goldman Sachs High Yield Floating Rate Fund—Summary
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Goldman Sachs High Yield Floating Rate Fund (the “Fund”) seeks a high level of current income.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 71 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 75 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees
(fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination July 28, 2018
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 55% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 55.00%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 71 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 75 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates The “Other Expenses” for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees The “Total Annual Fund Operating Expenses” do not correlate to the ratios of net and total expenses to average net assets provided in the Financial Highlights, which reflect the operating expenses of the Fund and do not include “Acquired Fund Fees and Expenses.”
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Investor, Class R and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Investor, Class R and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption Assuming complete redemption at end of period
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption Assuming no redemption
Strategy [Heading] rr_StrategyHeading Principal Strategy
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in domestic or foreign floating rate loans and other floating or variable rate obligations rated below investment grade. Non-investment grade obligations are those rated BB+, Ba1 or below by a nationally recognized statistical rating organization (“NRSRO”), or, if unrated, determined by the Investment Adviser to be of comparable credit quality, and are commonly referred to as “junk bonds.”

The Fund’s investments in floating and variable rate obligations may include, without limitation, senior secured loans (including assignments and participations), second lien loans, senior unsecured and subordinated loans, senior and subordinated corporate debt obligations (such as bonds, debentures, notes and commercial paper), debt issued by governments, their agencies and instrumentalities, and debt issued by central banks. The Fund may invest indirectly in loans by purchasing participations or sub-participations from financial institutions. Participations and sub-participations represent the right to receive a portion of the principal of, and all of the interest relating to such portion of, the applicable loan. The Fund expects to invest principally in the U.S. loan market and, to a lesser extent, in the European loan market. The Fund may also invest in other loan markets, although it does not currently intend to do so.

Under normal conditions, the Fund may invest up to 20% of its Net Assets in fixed income instruments, regardless of rating, including fixed rate corporate bonds, government bonds, convertible debt obligations, and mezzanine fixed income instruments. The Fund may also invest in floating or variable rate instruments that are rated investment grade and in preferred stock, repurchase agreements and cash securities.

The Fund may also invest in derivative instruments. Derivatives are instruments that have a value based on another instrument, exchange rate or index. The Fund’s investments in derivatives may include credit default swaps on credit and loan indices, forward contracts and total return swaps, among others. The Fund may use currency management techniques, such as forward foreign currency contracts, for hedging or non-hedging purposes. The Fund may invest in interest rate futures and swaps to manage the portfolio’s duration. Derivatives that provide exposure to floating or variable rate loans or obligations rated below investment grade are counted towards the Fund’s 80% policy.

The Fund’s target duration range under normal interest rate conditions is expected to approximate that of the Credit Suisse Leveraged Loan Index, plus or minus one year, and over the last five years ended June 30, 2017, the duration of the Index has ranged between 0.09 and 1.76 years. The Fund’s investments in floating rate obligations will generally have short to intermediate maturities (approximately 4-7 years). “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

The Fund’s investments are selected using a bottom-up analysis that incorporates fundamental research, a focus on market conditions and pricing trends, quantitative research, and news or market events. The selection of individual investments is based on the overall risk and return profile of the investment taking into account liquidity, structural complexity, cash flow uncertainty and downside potential. Research analysts and portfolio managers systematically assess portfolio positions, taking into consideration, among other factors, broader macroeconomic conditions and industry and company-specific financial performance and outlook. Based upon this analysis, the Investment Adviser will sell positions determined to be overvalued and reposition the portfolio in more attractive investment opportunities on a relative basis given the current climate.

The Fund’s benchmark index is the Credit Suisse Leveraged Loan Index.
Risk [Heading] rr_RiskHeading Principal Risks of the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.
  • Conflict of Interest Risk.  Affiliates of the Investment Adviser may participate in the primary and secondary market for loan obligations. Because of limitations imposed by applicable law, the presence of the Investment Adviser’s affiliates in the loan obligations market may restrict the Fund’s ability to acquire some loan obligations or affect the timing or price of such acquisitions. Also, because the Investment Adviser may wish to invest in the publicly traded securities of a borrower, it may not have access to material non-public information regarding the borrower to which other lenders have access.
  • Credit/Default Risk.  An issuer or guarantor of fixed income securities or instruments held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant deterioration in net asset value (“NAV”). These risks are more pronounced in connection with the Fund’s investments in non-investment grade fixed income securities.
  • Derivatives Risk.  The Fund's use of credit default swaps, total return swaps, futures, forwards and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligations. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund's use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund's ability to invest in derivatives and other instruments and adversely affect the Fund's performance and ability to pursue its investment objectives.
  • Floating and Variable Rate Obligations Risk.  For floating and variable rate obligations, there may be a lag between an actual change in the underlying interest rate benchmark and the reset time for an interest payment of such an obligation, which could harm or benefit the Fund, depending on the interest rate environment or other circumstances. In a rising interest rate environment, for example, a floating or variable rate obligation that does not reset immediately would prevent the Fund from taking full advantage of rising interest rates in a timely manner. However, in a declining interest rate environment, the Fund may benefit from a lag due to an obligation’s interest rate payment not being immediately impacted by a decline in interest rates.

    Certain floating and variable rate obligations have an interest rate floor feature, which prevents the interest rate payable by the security from dropping below a specified level as compared to a reference interest rate (the “reference rate”), such as LIBOR. Such a floor protects the Fund from losses resulting from a decrease in the reference rate below the specified level. However, if the reference rate is below the floor, there will be a lag between a rise in the reference rate and a rise in the interest rate payable by the obligation, and the Fund may not benefit from increasing interest rates for a significant amount of time.
  • Foreign Risk.  Foreign investments may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls, sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States or other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of instruments denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time.
  • Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.
  • Liquidity Risk.  The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests or other reasons. To meet redemption requests, the Fund may be forced to sell investments at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.
  • Loan-Related Investments Risk.  In addition to risks generally associated with debt investments, loan-related investments such as loan participations and assignments are subject to other risks. Although a loan obligation may be fully collateralized at the time of acquisition, the collateral may decline in value, be relatively illiquid, or lose all or substantially all of its value subsequent to investment. Many loan investments are subject to legal or contractual restrictions on resale and may be relatively illiquid and difficult to value. There is less readily available, reliable information about most loan investments than is the case for many other types of securities. Substantial increases in interest rates may cause an increase in loan obligation defaults. With respect to loan participations, the Fund may not always have direct recourse against a borrower if the borrower fails to pay scheduled principal and/or interest; may be subject to greater delays, expenses and risks than if the Fund had purchased a direct obligation of the borrower; and may be regarded as the creditor of the agent lender (rather than the borrower), subjecting the Fund to the creditworthiness of that lender as well. Investors in loans, such as the Fund, may not be entitled to rely on the anti-fraud protections of the federal securities laws, although they may be entitled to certain contractual remedies. The market for loan obligations may be subject to irregular trading activity, wide bid/ask spreads and extended trade settlement periods. Because transactions in many loans are subject to extended trade settlement periods, the Fund may not receive the proceeds from the sale of a loan for a period after the sale. As a result, sale proceeds related to the sale of loans may not be available to make additional investments or to meet the Fund’s redemption obligations for a period after the sale of the loans, and, as a result, the Fund may have to sell other investments or engage in borrowing transactions, such as borrowing from its credit facility, if necessary to raise cash to meet its obligations.

    Senior loans hold the most senior position in the capital structure of a business entity, and are typically secured with specific collateral, but are nevertheless usually rated below investment grade. Because second lien loans are subordinated or unsecured and thus lower in priority of payment to senior loans, they are subject to the additional risk that the cash flow of the borrower and property securing the loan or debt, if any, may be insufficient to meet scheduled payments after giving effect to the senior secured obligations of the borrower. Second lien loans generally have greater price volatility than senior loans and may be less liquid.
  • Market Risk.  The market value of the securities in which the Fund invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/or general economic conditions throughout the world due to increasingly interconnected global economies and financial markets.
  • Non-Investment Grade Fixed Income Securities Risk.  Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as “junk bonds”) are considered speculative and are subject to the increased risk of an issuer’s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity.
Risk Lose Money [Text] rr_RiskLoseMoney Loss of money is a risk of investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation ("FDIC") or any government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Investor, Class R and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Investor, Class R and Class T Shares compare to those of a broad-based securities market index.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess As of the date of the Prospectus, Class T Shares have not commenced operations.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.gsamfunds.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund's past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The total return for Class A Shares for the six-month
period ended June 30, 2017 was 1.49%.

Best Quarter
Q1 ‘12              +2.66%

Worst Quarter
Q4 ‘15              –1.77%
Performance Table Heading rr_PerformanceTableHeading AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Performance Table Does Reflect Sales Loads rr_PerformanceTableDoesReflectSalesLoads Performance has been adjusted to reflect the higher maximum sales charge (load) imposed on purchases of Class T Shares. Class A Shares had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class A Shares impose a lower maximum sales charge (load) on purchases.
Performance Table Market Index Changed rr_PerformanceTableMarketIndexChanged Effective October 1, 2016, the Credit Suisse Leveraged Loan Index replaced the Bloomberg Barclays U.S. High Yield Loans Index as the Fund’s benchmark because the Bloomberg Barclays U.S. High Yield Loans Index was discontinued.
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R Shares (which are offered exclusively to employee benefit plans), will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Goldman Sachs High Yield Floating Rate Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.25%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.55%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.17%
Other Expenses rr_OtherExpensesOverAssets 0.17% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.02%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.99% [3]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.02%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.97% [3],[5]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 100,000
1 Year rr_ExpenseExampleYear01 322
3 Years rr_ExpenseExampleYear03 531
5 Years rr_ExpenseExampleYear05 758
10 Years rr_ExpenseExampleYear10 $ 1,409
2012 rr_AnnualReturn2012 6.78%
2013 rr_AnnualReturn2013 4.27%
2014 rr_AnnualReturn2014 0.87%
2015 rr_AnnualReturn2015 (0.97%)
2016 rr_AnnualReturn2016 7.92%
Year to Date Return, Label rr_YearToDateReturnLabel total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 1.49%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2012
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 2.66%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2015
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (1.77%)
1 Year rr_AverageAnnualReturnYear01 5.45%
5 Years rr_AverageAnnualReturnYear05 3.26%
Since Inception rr_AverageAnnualReturnSinceInception 2.75%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 31, 2011
Goldman Sachs High Yield Floating Rate Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Management Fees rr_ManagementFeesOverAssets 0.55%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
All Other Expenses rr_Component3OtherExpensesOverAssets 0.17%
Other Expenses rr_OtherExpensesOverAssets 0.42% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.02%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.74% [3]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.02%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.72% [3],[5]
1 Year rr_ExpenseExampleYear01 $ 275
3 Years rr_ExpenseExampleYear03 546
5 Years rr_ExpenseExampleYear05 942
10 Years rr_ExpenseExampleYear10 2,050
1 Year rr_ExpenseExampleNoRedemptionYear01 175
3 Years rr_ExpenseExampleNoRedemptionYear03 546
5 Years rr_ExpenseExampleNoRedemptionYear05 942
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,050
1 Year rr_AverageAnnualReturnYear01 5.97%
5 Years rr_AverageAnnualReturnYear05 2.97%
Since Inception rr_AverageAnnualReturnSinceInception 2.39%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 31, 2011
Goldman Sachs High Yield Floating Rate Fund | Institutional  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.55%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.08%
Other Expenses rr_OtherExpensesOverAssets 0.08% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.02%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.65% [3]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.02%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.63% [3],[5]
1 Year rr_ExpenseExampleYear01 $ 64
3 Years rr_ExpenseExampleYear03 206
5 Years rr_ExpenseExampleYear05 360
10 Years rr_ExpenseExampleYear10 $ 809
1 Year rr_AverageAnnualReturnYear01 8.28%
5 Years rr_AverageAnnualReturnYear05 4.10%
Since Inception rr_AverageAnnualReturnSinceInception 3.52%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 31, 2011
Goldman Sachs High Yield Floating Rate Fund | Investor  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.55%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.17%
Other Expenses rr_OtherExpensesOverAssets 0.17% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.02%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.74% [3]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.02%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.72% [3],[5]
1 Year rr_ExpenseExampleYear01 $ 74
3 Years rr_ExpenseExampleYear03 235
5 Years rr_ExpenseExampleYear05 410
10 Years rr_ExpenseExampleYear10 $ 917
1 Year rr_AverageAnnualReturnYear01 8.07%
5 Years rr_AverageAnnualReturnYear05 4.00%
Since Inception rr_AverageAnnualReturnSinceInception 3.43%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 31, 2011
Goldman Sachs High Yield Floating Rate Fund | Class R  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.55%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.17%
Other Expenses rr_OtherExpensesOverAssets 0.17% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.02%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.24% [3]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.02%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.22% [3],[5]
1 Year rr_ExpenseExampleYear01 $ 124
3 Years rr_ExpenseExampleYear03 391
5 Years rr_ExpenseExampleYear05 679
10 Years rr_ExpenseExampleYear10 $ 1,498
1 Year rr_AverageAnnualReturnYear01 7.54%
5 Years rr_AverageAnnualReturnYear05 3.47%
Since Inception rr_AverageAnnualReturnSinceInception 2.90%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 31, 2011
Goldman Sachs High Yield Floating Rate Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.55%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.17%
Other Expenses rr_OtherExpensesOverAssets 0.17% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.02%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.99% [3]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.02%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.97% [3],[5]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
1 Year rr_ExpenseExampleYear01 346
3 Years rr_ExpenseExampleYear03 555
5 Years rr_ExpenseExampleYear05 782
10 Years rr_ExpenseExampleYear10 $ 1,431
1 Year rr_AverageAnnualReturnYear01 5.23% [6]
5 Years rr_AverageAnnualReturnYear05 3.20% [6]
Since Inception rr_AverageAnnualReturnSinceInception 2.70% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [6]
Goldman Sachs High Yield Floating Rate Fund | Returns After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 3.65%
5 Years rr_AverageAnnualReturnYear05 1.70%
Since Inception rr_AverageAnnualReturnSinceInception 1.26%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 31, 2011
Goldman Sachs High Yield Floating Rate Fund | Returns After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 3.05%
5 Years rr_AverageAnnualReturnYear05 1.81%
Since Inception rr_AverageAnnualReturnSinceInception 1.46%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 31, 2011
Goldman Sachs High Yield Floating Rate Fund | Credit Suisse Leveraged Loan Index (reflects no deduction for fees or expenses)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 10.79% [7]
5 Years rr_AverageAnnualReturnYear05 5.32% [7]
Since Inception rr_AverageAnnualReturnSinceInception 4.36% [7]
[1] A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase.
[2] The "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[3] The "Total Annual Fund Operating Expenses" do not correlate to the ratios of net and total expenses to average net assets provided in the Financial Highlights, which reflect the operating expenses of the Fund and do not include "Acquired Fund Fees and Expenses."
[4] The Investment Adviser has agreed to (i) waive a portion of its management fee payable by the Fund in an amount equal to any management fees it earns as an investment adviser to any of the affiliated funds in which the Fund invests; and (ii) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.104% of the Fund's average daily net assets. These arrangements will remain in effect through at least July 28, 2018, and prior to such date, the Investment Adviser may not terminate the arrangements without the approval of the Board of Trustees.
[5] After Fee Waiver and Expense Limitation
[6] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has been adjusted to reflect the higher maximum sales charge (load) imposed on purchases of Class T Shares. Class A Shares had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class A Shares impose a lower maximum sales charge (load) on purchases.
[7] Effective October 1, 2016, the Credit Suisse Leveraged Loan Index replaced the Bloomberg Barclays U.S. High Yield Loans Index as the Fund's benchmark because the Bloomberg Barclays U.S. High Yield Loans Index was discontinued.
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KC5+;)DZ XML 33 R58.htm IDEA: XBRL DOCUMENT v3.7.0.1
Goldman Sachs Investment Grade Credit Fund
Goldman Sachs Investment Grade Credit Fund—Summary
Investment Objective
The Goldman Sachs Investment Grade Credit Fund (the “Fund”) seeks a high level of total return consisting of capital appreciation and income that exceeds the total return of the Bloomberg Barclays U.S. Credit Index.
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 71 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 75 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees
(fees paid directly from your investment)
Shareholder Fees - Goldman Sachs Investment Grade Credit Fund
Class A
Institutional
Investor
Separate Account Institutional
Class R6
Class T
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 3.75% none none none none 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) none none none none none none
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses - Goldman Sachs Investment Grade Credit Fund
Class A
Institutional
Investor
Separate Account Institutional
Class R6
Class T
Management Fees [1] 0.34% 0.34% 0.34% 0.34% 0.34% 0.34%
Distribution and Service (12b-1) Fees 0.25% none none none none 0.25%
Other Expenses [2] 0.22% 0.13% 0.22% 0.13% 0.12% 0.22%
Total Annual Fund Operating Expenses 0.81% 0.47% 0.56% 0.47% 0.46% 0.81%
Expense Limitation [3] (0.08%) (0.08%) (0.08%) (0.08%) (0.08%) (0.08%)
Total Annual Fund Operating Expenses [4] 0.73% 0.39% 0.48% 0.39% 0.38% 0.73%
[1] The Fund's "Management Fees" have been restated to reflect current fees.
[2] The "Other Expenses" for Class R6 Shares have been restated and the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[3] The Investment Adviser has agreed to reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification, and extraordinary expenses) to 0.004% of the Fund's average daily net assets. This arrangement will remain in effect through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees.
[4] After Expense Limitation
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Institutional, Investor, Separate Account Institutional, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Institutional, Investor, Separate Account Institutional, Class R6 and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the expense limitation arrangement for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example - Goldman Sachs Investment Grade Credit Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A Shares 447 616 800 1,332
Institutional Shares 40 143 255 584
Investor Shares 49 171 305 694
Separate Account Institutional Shares 40 143 255 584
Class R6 Shares 39 140 250 571
Class T Shares 323 494 681 1,219
Portfolio Turnover
The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 63% of the average value of its portfolio.
Principal Strategy
The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in investment grade fixed income securities. Investment grade securities are securities that are rated at the time of purchase at least BBB– by Standard & Poor’s Ratings Services (“Standard & Poor’s”), at least Baa3 by Moody’s Investors Service, Inc. (“Moody’s”), or have a comparable credit rating by another nationally recognized statistical rating organization (“NRSRO”) or, if unrated, are determined by the Investment Adviser to be of comparable credit quality. The Fund may invest in corporate securities, securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises (“U.S. Government Securities”), securities representing direct or indirect interests in or that are collateralized by adjustable rate and fixed rate mortgage loans or other mortgage-related securities (“Mortgage-Backed Securities”), asset-backed securities, and fixed income securities issued by or on behalf of states, territories and possessions of the United States (including the District of Columbia) and the political subdivisions, agencies and instrumentalities thereof (“Municipal Securities”). The Fund also intends to invest in derivatives, including (but not limited to) interest rate futures, interest rate swaps and credit default swaps, which are used primarily to hedge the Fund’s portfolio risks, manage the Fund’s duration and/or gain exposure to certain fixed income securities or indices. Although the Fund may invest without limit in foreign securities, the Fund’s investments in non-U.S. dollar denominated obligations (hedged or unhedged against currency risk) will not exceed 25% of its total assets at the time of investment, and 10% of the Fund’s total assets may be invested in obligations of emerging countries. Additionally, exposure to non-U.S. currencies (unhedged against currency risk) will not exceed 25% of the Fund’s total assets. In pursuing its investment objective, the Fund uses the Bloomberg Barclays U.S. Credit Index as its performance benchmark, but the Fund will not attempt to replicate the Bloomberg Barclays U.S. Credit Index. The Fund may, therefore, invest in securities that are not included in the Bloomberg Barclays U.S. Credit Index.

The Fund’s target duration range under normal interest rate conditions is expected to approximate that of the Bloomberg Barclays U.S. Credit Index, plus or minus one year, and over the last five years ended June 30, 2017, the duration of this Index has ranged between 6.63 and 7.37 years. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

The Fund’s portfolio management team seeks to build a portfolio consisting of their “best ideas” across the investment grade credit market consistent with the Fund’s overall risk budget and the views of the Investment Adviser’s Global Fixed Income top-down teams. As market conditions change, the volatility and attractiveness of sectors, securities and strategies can change as well. To optimize the Fund’s risk/return potential within its long-term risk budget, the portfolio management team may dynamically adjust the mix of top-down and bottom-up strategies in the Fund’s portfolio.

The Fund’s benchmark index is the Bloomberg Barclays U.S. Credit Index.
Principal Risks of the Fund
Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.
  • Credit/Default Risk.  An issuer or guarantor of fixed income securities or instruments held by the Fund may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant deterioration in net asset value (“NAV”).
  • Derivatives Risk.  The Fund’s use of interest rate futures, interest rate swaps, credit default swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligations. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund’s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund’s ability to invest in derivatives and other instruments and adversely affect the Fund’s performance and ability to pursue its investment objectives.
  • Foreign Risk.  Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls, sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States or other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time.
  • Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rate are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.
  • Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.
  • Municipal Securities Risk.  Municipal Securities are subject to credit/default risk, interest rate risk and certain additional risks. The Fund may be more sensitive to adverse economic, business or political developments if it invests a substantial portion of its assets in the bonds of similar projects (such as those relating to education, health care, housing, transportation, and utilities), industrial development bonds, or in particular types of municipal securities (such as general obligation bonds, private activity bonds and moral obligation bonds).
  • U.S. Government Securities Risk.  The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by the Federal National Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including their legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future.
Performance
The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Institutional, Investor, Separate Account Institutional, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart
The total return for Class A Shares for the six-month period ended
June 30, 2017 was 3.72%.

Best Quarter
Q2 ‘09              +10.01%

Worst Quarter
Q3 ‘08              –8.21%
AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Average Annual Total Returns - Goldman Sachs Investment Grade Credit Fund
1 Year
5 Years
10 Years
Since Inception
Inception Date
Class A Shares 0.79% 3.08% 4.00% 4.01% Nov. 03, 2003
Class A Shares | Returns After Taxes on Distributions (0.50%) 1.37% 2.15% 2.25% Nov. 03, 2003
Class A Shares | Returns After Taxes on Distributions and Sale of Fund Shares 0.45% 1.74% 2.42% 2.46% Nov. 03, 2003
Class A Shares | Bloomberg Barclays U.S. Credit Index (reflects no deduction for fees or expenses) 5.61% 3.84% 5.31% 5.02% Nov. 03, 2003
Institutional Shares 5.23% 4.25% 4.75% 4.70% Nov. 03, 2003
Institutional Shares | Bloomberg Barclays U.S. Credit Index (reflects no deduction for fees or expenses) 5.61% 3.84% 5.31% 5.02% Nov. 03, 2003
Investor Shares 5.14% 4.16% 4.12% Jul. 29, 2011
Investor Shares | Bloomberg Barclays U.S. Credit Index (reflects no deduction for fees or expenses) 5.61% 3.84% 3.97% Jul. 29, 2011
Separate Account Institutional Shares 5.23% 4.25% 4.78% 4.73% Nov. 03, 2003
Separate Account Institutional Shares | Bloomberg Barclays U.S. Credit Index (reflects no deduction for fees or expenses) 5.61% 3.84% 5.31% 5.02% Nov. 03, 2003
Class R6 Shares [1] 5.24% 4.25% 4.75% 4.70% Jul. 31, 2015
Class R6 Shares | Bloomberg Barclays U.S. Credit Index (reflects no deduction for fees or expenses) [1] 5.61% 3.84% 5.31% 5.02% Jul. 31, 2015
Class T Shares [2] 0.79% 3.08% 4.00% 4.01% Jul. 28, 2017
Class T Shares | Bloomberg Barclays U.S. Credit Index (reflects no deduction for fees or expenses) [2] 5.61% 3.84% 5.31% 5.02% Jul. 28, 2017
[1] Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of the Class R6 Shares shown in the table above is that of the Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses.
[2] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
The after-tax returns are for Class A Shares only. The after-tax returns for Institutional, Investor, Separate Account Institutional and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

XML 34 R64.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName GOLDMAN SACHS TRUST
Prospectus Date rr_ProspectusDate Jul. 28, 2017
Goldman Sachs Investment Grade Credit Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Goldman Sachs Investment Grade Credit Fund—Summary
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Goldman Sachs Investment Grade Credit Fund (the “Fund”) seeks a high level of total return consisting of capital appreciation and income that exceeds the total return of the Bloomberg Barclays U.S. Credit Index.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 71 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 75 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees
(fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination July 28, 2018
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 63% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 63.00%
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 71 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 75 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates the “Other Expenses” for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent The Fund’s “Management Fees” have been restated to reflect current fees.

The "Other Expenses" for Class R6 Shares have been restated
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Institutional, Investor, Separate Account Institutional, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Institutional, Investor, Separate Account Institutional, Class R6 and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the expense limitation arrangement for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading Principal Strategy
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in investment grade fixed income securities. Investment grade securities are securities that are rated at the time of purchase at least BBB– by Standard & Poor’s Ratings Services (“Standard & Poor’s”), at least Baa3 by Moody’s Investors Service, Inc. (“Moody’s”), or have a comparable credit rating by another nationally recognized statistical rating organization (“NRSRO”) or, if unrated, are determined by the Investment Adviser to be of comparable credit quality. The Fund may invest in corporate securities, securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises (“U.S. Government Securities”), securities representing direct or indirect interests in or that are collateralized by adjustable rate and fixed rate mortgage loans or other mortgage-related securities (“Mortgage-Backed Securities”), asset-backed securities, and fixed income securities issued by or on behalf of states, territories and possessions of the United States (including the District of Columbia) and the political subdivisions, agencies and instrumentalities thereof (“Municipal Securities”). The Fund also intends to invest in derivatives, including (but not limited to) interest rate futures, interest rate swaps and credit default swaps, which are used primarily to hedge the Fund’s portfolio risks, manage the Fund’s duration and/or gain exposure to certain fixed income securities or indices. Although the Fund may invest without limit in foreign securities, the Fund’s investments in non-U.S. dollar denominated obligations (hedged or unhedged against currency risk) will not exceed 25% of its total assets at the time of investment, and 10% of the Fund’s total assets may be invested in obligations of emerging countries. Additionally, exposure to non-U.S. currencies (unhedged against currency risk) will not exceed 25% of the Fund’s total assets. In pursuing its investment objective, the Fund uses the Bloomberg Barclays U.S. Credit Index as its performance benchmark, but the Fund will not attempt to replicate the Bloomberg Barclays U.S. Credit Index. The Fund may, therefore, invest in securities that are not included in the Bloomberg Barclays U.S. Credit Index.

The Fund’s target duration range under normal interest rate conditions is expected to approximate that of the Bloomberg Barclays U.S. Credit Index, plus or minus one year, and over the last five years ended June 30, 2017, the duration of this Index has ranged between 6.63 and 7.37 years. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

The Fund’s portfolio management team seeks to build a portfolio consisting of their “best ideas” across the investment grade credit market consistent with the Fund’s overall risk budget and the views of the Investment Adviser’s Global Fixed Income top-down teams. As market conditions change, the volatility and attractiveness of sectors, securities and strategies can change as well. To optimize the Fund’s risk/return potential within its long-term risk budget, the portfolio management team may dynamically adjust the mix of top-down and bottom-up strategies in the Fund’s portfolio.

The Fund’s benchmark index is the Bloomberg Barclays U.S. Credit Index.
Risk [Heading] rr_RiskHeading Principal Risks of the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.
  • Credit/Default Risk.  An issuer or guarantor of fixed income securities or instruments held by the Fund may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant deterioration in net asset value (“NAV”).
  • Derivatives Risk.  The Fund’s use of interest rate futures, interest rate swaps, credit default swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligations. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund’s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund’s ability to invest in derivatives and other instruments and adversely affect the Fund’s performance and ability to pursue its investment objectives.
  • Foreign Risk.  Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls, sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States or other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time.
  • Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rate are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.
  • Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.
  • Municipal Securities Risk.  Municipal Securities are subject to credit/default risk, interest rate risk and certain additional risks. The Fund may be more sensitive to adverse economic, business or political developments if it invests a substantial portion of its assets in the bonds of similar projects (such as those relating to education, health care, housing, transportation, and utilities), industrial development bonds, or in particular types of municipal securities (such as general obligation bonds, private activity bonds and moral obligation bonds).
  • U.S. Government Securities Risk.  The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by the Federal National Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including their legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future.
Risk Lose Money [Text] rr_RiskLoseMoney Loss of money is a risk of investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Institutional, Investor, Separate Account Institutional, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Institutional, Investor, Separate Account Institutional, Class R6 and Class T Shares compare to those of a broad-based securities market index.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess As of the date of the Prospectus, Class T Shares have not commenced operations.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.gsamfunds.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The total return for Class A Shares for the six-month period ended
June 30, 2017 was 3.72%.

Best Quarter
Q2 ‘09              +10.01%

Worst Quarter
Q3 ‘08              –8.21%
Performance Table Heading rr_PerformanceTableHeading AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Performance Table Does Reflect Sales Loads rr_PerformanceTableDoesReflectSalesLoads Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown The after-tax returns are for Class A Shares only. The after-tax returns for Institutional, Investor, Separate Account Institutional and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The after-tax returns are for Class A Shares only. The after-tax returns for Institutional, Investor, Separate Account Institutional and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Goldman Sachs Investment Grade Credit Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 3.75%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets 0.34% [1]
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.22% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.81%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.08%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.73% [4]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 100,000
1 Year rr_ExpenseExampleYear01 447
3 Years rr_ExpenseExampleYear03 616
5 Years rr_ExpenseExampleYear05 800
10 Years rr_ExpenseExampleYear10 $ 1,332
2007 rr_AnnualReturn2007 4.80%
2008 rr_AnnualReturn2008 (13.78%)
2009 rr_AnnualReturn2009 18.77%
2010 rr_AnnualReturn2010 9.39%
2011 rr_AnnualReturn2011 8.35%
2012 rr_AnnualReturn2012 11.34%
2013 rr_AnnualReturn2013 (1.24%)
2014 rr_AnnualReturn2014 6.99%
2015 rr_AnnualReturn2015 (1.91%)
2016 rr_AnnualReturn2016 4.76%
Year to Date Return, Label rr_YearToDateReturnLabel total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 3.72%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 10.01%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (8.21%)
1 Year rr_AverageAnnualReturnYear01 0.79%
5 Years rr_AverageAnnualReturnYear05 3.08%
10 Years rr_AverageAnnualReturnYear10 4.00%
Since Inception rr_AverageAnnualReturnSinceInception 4.01%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 03, 2003
Goldman Sachs Investment Grade Credit Fund | Institutional  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets 0.34% [1]
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.13% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.47%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.08%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.39% [4]
1 Year rr_ExpenseExampleYear01 $ 40
3 Years rr_ExpenseExampleYear03 143
5 Years rr_ExpenseExampleYear05 255
10 Years rr_ExpenseExampleYear10 $ 584
1 Year rr_AverageAnnualReturnYear01 5.23%
5 Years rr_AverageAnnualReturnYear05 4.25%
10 Years rr_AverageAnnualReturnYear10 4.75%
Since Inception rr_AverageAnnualReturnSinceInception 4.70%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 03, 2003
Goldman Sachs Investment Grade Credit Fund | Investor  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets 0.34% [1]
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.22% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.56%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.08%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.48% [4]
1 Year rr_ExpenseExampleYear01 $ 49
3 Years rr_ExpenseExampleYear03 171
5 Years rr_ExpenseExampleYear05 305
10 Years rr_ExpenseExampleYear10 $ 694
1 Year rr_AverageAnnualReturnYear01 5.14%
5 Years rr_AverageAnnualReturnYear05 4.16%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 4.12%
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 29, 2011
Goldman Sachs Investment Grade Credit Fund | Separate Account Institutional  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets 0.34% [1]
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.13% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.47%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.08%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.39% [4]
1 Year rr_ExpenseExampleYear01 $ 40
3 Years rr_ExpenseExampleYear03 143
5 Years rr_ExpenseExampleYear05 255
10 Years rr_ExpenseExampleYear10 $ 584
1 Year rr_AverageAnnualReturnYear01 5.23%
5 Years rr_AverageAnnualReturnYear05 4.25%
10 Years rr_AverageAnnualReturnYear10 4.78%
Since Inception rr_AverageAnnualReturnSinceInception 4.73%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 03, 2003
Goldman Sachs Investment Grade Credit Fund | Class R6  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets 0.34% [1]
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.12% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.46%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.08%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.38% [4]
1 Year rr_ExpenseExampleYear01 $ 39
3 Years rr_ExpenseExampleYear03 140
5 Years rr_ExpenseExampleYear05 250
10 Years rr_ExpenseExampleYear10 $ 571
1 Year rr_AverageAnnualReturnYear01 5.24% [5]
5 Years rr_AverageAnnualReturnYear05 4.25% [5]
10 Years rr_AverageAnnualReturnYear10 4.75% [5]
Since Inception rr_AverageAnnualReturnSinceInception 4.70% [5]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [5]
Goldman Sachs Investment Grade Credit Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets 0.34% [1]
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.22% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.81%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.08%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.73% [4]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
1 Year rr_ExpenseExampleYear01 323
3 Years rr_ExpenseExampleYear03 494
5 Years rr_ExpenseExampleYear05 681
10 Years rr_ExpenseExampleYear10 $ 1,219
1 Year rr_AverageAnnualReturnYear01 0.79% [6]
5 Years rr_AverageAnnualReturnYear05 3.08% [6]
10 Years rr_AverageAnnualReturnYear10 4.00% [6]
Since Inception rr_AverageAnnualReturnSinceInception 4.01% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [6]
Goldman Sachs Investment Grade Credit Fund | Returns After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (0.50%)
5 Years rr_AverageAnnualReturnYear05 1.37%
10 Years rr_AverageAnnualReturnYear10 2.15%
Since Inception rr_AverageAnnualReturnSinceInception 2.25%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 03, 2003
Goldman Sachs Investment Grade Credit Fund | Returns After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.45%
5 Years rr_AverageAnnualReturnYear05 1.74%
10 Years rr_AverageAnnualReturnYear10 2.42%
Since Inception rr_AverageAnnualReturnSinceInception 2.46%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 03, 2003
Goldman Sachs Investment Grade Credit Fund | Bloomberg Barclays U.S. Credit Index (reflects no deduction for fees or expenses) | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 5.61%
5 Years rr_AverageAnnualReturnYear05 3.84%
10 Years rr_AverageAnnualReturnYear10 5.31%
Since Inception rr_AverageAnnualReturnSinceInception 5.02%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 03, 2003
Goldman Sachs Investment Grade Credit Fund | Bloomberg Barclays U.S. Credit Index (reflects no deduction for fees or expenses) | Institutional  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 5.61%
5 Years rr_AverageAnnualReturnYear05 3.84%
10 Years rr_AverageAnnualReturnYear10 5.31%
Since Inception rr_AverageAnnualReturnSinceInception 5.02%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 03, 2003
Goldman Sachs Investment Grade Credit Fund | Bloomberg Barclays U.S. Credit Index (reflects no deduction for fees or expenses) | Investor  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 5.61%
5 Years rr_AverageAnnualReturnYear05 3.84%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 3.97%
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 29, 2011
Goldman Sachs Investment Grade Credit Fund | Bloomberg Barclays U.S. Credit Index (reflects no deduction for fees or expenses) | Separate Account Institutional  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 5.61%
5 Years rr_AverageAnnualReturnYear05 3.84%
10 Years rr_AverageAnnualReturnYear10 5.31%
Since Inception rr_AverageAnnualReturnSinceInception 5.02%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 03, 2003
Goldman Sachs Investment Grade Credit Fund | Bloomberg Barclays U.S. Credit Index (reflects no deduction for fees or expenses) | Class R6  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 5.61% [5]
5 Years rr_AverageAnnualReturnYear05 3.84% [5]
10 Years rr_AverageAnnualReturnYear10 5.31% [5]
Since Inception rr_AverageAnnualReturnSinceInception 5.02% [5]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [5]
Goldman Sachs Investment Grade Credit Fund | Bloomberg Barclays U.S. Credit Index (reflects no deduction for fees or expenses) | Class T  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 5.61% [6]
5 Years rr_AverageAnnualReturnYear05 3.84% [6]
10 Years rr_AverageAnnualReturnYear10 5.31% [6]
Since Inception rr_AverageAnnualReturnSinceInception 5.02% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [6]
[1] The Fund's "Management Fees" have been restated to reflect current fees.
[2] The "Other Expenses" for Class R6 Shares have been restated and the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[3] The Investment Adviser has agreed to reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification, and extraordinary expenses) to 0.004% of the Fund's average daily net assets. This arrangement will remain in effect through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees.
[4] After Expense Limitation
[5] Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of the Class R6 Shares shown in the table above is that of the Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses.
[6] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
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Goldman Sachs Local Emerging Markets Debt Fund
Goldman Sachs Local Emerging Markets Debt Fund—Summary
Investment Objective
The Goldman Sachs Local Emerging Markets Debt Fund (the “Fund”) seeks a high level of total return consisting of income and capital appreciation.
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 71 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 75 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees
(fees paid directly from your investment)
Shareholder Fees - Goldman Sachs Local Emerging Markets Debt Fund
Class A
Class C
Institutional
Investor
Class T
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 4.50% none none none 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) [1] none 1.00% none none none
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 30 calendar days or less) 2.00% 2.00% 2.00% 2.00% 2.00%
[1] A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase.
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses - Goldman Sachs Local Emerging Markets Debt Fund
Class A
Class C
Institutional
Investor
Class T
Management Fees [1] 0.80% 0.80% 0.80% 0.80% 0.80%
Distribution and/or Service (12b-1) Fees 0.25% 0.75% none none 0.25%
Other Expenses [2] 0.31% 0.56% 0.22% 0.31% 0.31%
Service Fees none 0.25% none none none
All Other Expenses 0.31% 0.31% 0.22% 0.31% 0.31%
Total Annual Fund Operating Expenses 1.36% 2.11% 1.02% 1.11% 1.36%
Fee Waiver and Expense Limitation [3] (0.14%) (0.14%) (0.10%) (0.14%) (0.14%)
Total Annual Fund Operating Expenses [4] 1.22% 1.97% 0.92% 0.97% 1.22%
[1] The Fund's "Management Fees" have been restated to reflect current fees.
[2] The "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[3] The Investment Adviser has agreed to reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification, and extraordinary expenses) to 0.074% of the Fund's average daily net assets. Additionally, Goldman Sachs & Co. LLC ("Goldman Sachs"), the Fund's transfer agent, has agreed to waive a portion of its transfer agency fee (a component of "Other Expenses") equal to 0.04% as an annual percentage rate of the average daily net assets attributable to Class A, Class C, Investor and Class T Shares of the Fund. These arrangements will remain in effect through at least July 28, 2018, and prior to such date, the Investment Adviser and Goldman Sachs may not terminate the arrangements without the approval of the Board of Trustees. The Fund's "Total Annual Fund Operating Expenses After Fee Waiver and Expense Limitation" have been restated to reflect the fee waiver and expense limitations currently in effect.
[4] After Fee Waiver and Expense Limitation
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Investor and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Investor and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Assuming complete redemption at end of period
Expense Example - Goldman Sachs Local Emerging Markets Debt Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A Shares 569 848 1,148 2,000
Class C Shares 300 647 1,121 2,430
Institutional Shares 94 315 554 1,239
Investor Shares 99 339 598 1,339
Class T Shares 371 657 963 1,832
Assuming no redemption
Expense Example, No Redemption
1 Year
3 Years
5 Years
10 Years
Goldman Sachs Local Emerging Markets Debt Fund | Class C Shares | USD ($) 200 647 1,121 2,430
Portfolio Turnover
The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 111% of the average value of its portfolio.
Principal Strategy
The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in sovereign and corporate debt securities of issuers in emerging market countries, denominated in the local currency of such emerging market countries, and other instruments, including credit linked notes and other investments, with similar economic exposures.

The Fund’s portfolio managers seek to build a portfolio across the emerging markets debt market consistent with the Fund’s overall risk budget and the views of the Investment Adviser’s Global Fixed Income top-down teams. As market conditions change, the volatility and attractiveness of sectors, securities and strategies can change as well. To optimize the Fund’s risk/return potential within its long-term risk budget, the portfolio managers may dynamically adjust the mix of top-down and bottom-up strategies in the Fund’s portfolio.

The Fund may invest in all types of foreign and emerging country fixed income securities, including the following:
  • Debt issued by governments, their agencies and instrumentalities, or by their central banks, including Brady Bonds;
  • Interests in structured securities;
  • Fixed and floating rate, senior and subordinated corporate debt obligations (such as bonds, debentures, notes and commercial paper);
  • Loan participations; and
  • Repurchase agreements with respect to the foregoing.
Foreign securities include securities of issuers located outside the U.S. or securities quoted or denominated in a currency other than the U.S. Dollar.

Currency investments, particularly longer-dated forward contracts, provide the Fund with economic exposure similar to investments in sovereign and corporate debt with respect to currency and interest rate exposure. The Investment Adviser intends to use structured securities and derivative instruments to attempt to improve the performance of the Fund or to gain exposure to certain countries or currencies in the Fund’s investment portfolio in accordance with its investment objective, and the Fund’s investments in these instruments may be significant. These transactions may result in substantial realized and unrealized capital gains and losses relative to the gains and losses from the Fund’s investments in bonds and other securities.

The Fund may invest in securities without regard to credit rating. The countries in which the Fund invests may have sovereign ratings that are below investment grade or are unrated. Moreover, to the extent the Fund invests in corporate or other privately issued debt obligations, many of the issuers of such obligations will be smaller companies with stock market capitalizations of $1 billion or less at the time of investment. Securities of these issuers may be rated below investment grade (so-called “high yield” or “junk” bonds) or unrated. Although a majority of the Fund’s assets will be denominated in non-U.S. Dollars, the Fund may invest in securities denominated in the U.S. Dollar.

For purposes of the Fund’s policy to invest at least 80% of its Net Assets in securities and instruments of “emerging market country” issuers, such countries include but are not limited to those considered to be developing by the World Bank. Generally, the Investment Adviser has broad discretion to identify other countries that it considers to qualify as emerging market countries. The majority of these countries are likely to be located in Africa, Asia, the Middle East, Eastern and Central Europe and Central and South America. Sovereign debt consists of debt securities issued by governments or any of their agencies, political subdivisions or instrumentalities, denominated in the local currency. Sovereign debt may also include nominal and real inflation-linked securities. In determining whether an issuer of corporate debt is in an emerging market country, the Investment Adviser will ordinarily do so by identifying the issuer’s “country of risk.” The issuer’s “country of risk” is determined based on a number of criteria, including its country of domicile, the primary stock exchange on which it trades, the location from which the majority of its revenue comes, and its reporting currency. Although the Investment Adviser will generally rely on an issuer’s “country of risk” as determined by Bloomberg, it is not required to do so.

The Fund’s target duration range under normal interest rate conditions is expected to approximate that of the J.P. Morgan Government Bond Index—Emerging Markets (GBI-EMSM) Global Diversified Index (Gross, USD, Unhedged) plus or minus 2 years, and over the last five years ended June 30, 2017, the duration of this Index has ranged between 4.06 and 5.10 years. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

The Fund may invest in the aggregate up to 20% of its Net Assets in investments other than emerging country fixed income securities, currency investments and related derivatives, including (without limitation) equity securities and fixed income securities, such as government, corporate and bank debt obligations, of developed country issuers.

The Fund’s benchmark index is the J.P. Morgan Government Bond Index—Emerging Markets (GBI-EMSM) Global Diversified Index (Gross, USD, Unhedged).

THE FUND IS NON-DIVERSIFIED UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED (THE “INVESTMENT COMPANY ACT”), AND MAY INVEST A LARGER PERCENTAGE OF ITS ASSETS IN FEWER ISSUERS THAN DIVERSIFIED MUTUAL FUNDS.
Principal Risks of the Fund
Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.
  • Counterparty Risk.  Many of the protections afforded to cleared transactions, such as the security afforded by transacting through a clearinghouse, might not be available in connection with over-the-counter (“OTC”) transactions. Therefore, in those instances in which the Fund enters into OTC transactions, the Fund will be subject to the risk that its direct counterparty will not perform its obligations under the transactions and that the Fund will sustain losses.
  • Credit/Default Risk.  An issuer or guarantor of fixed income securities or instruments held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant deterioration in net asset value (“NAV”). These risks are more pronounced in connection with the Fund’s investments in non-investment grade fixed income securities.
  • Derivatives Risk.  The Fund’s use of structured securities and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligations. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund’s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund’s ability to invest in derivatives and other instruments and adversely affect the Fund’s performance and ability to pursue its investment objectives.
  • Foreign and Emerging Countries Risk.  Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls, sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. These risks may be more pronounced in connection with the Fund’s investments in securities of issuers located in emerging countries.
  • Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rate are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.
  • Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.
  • Liquidity Risk.  The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests or other reasons. To meet redemption requests, the Fund may be forced to sell securities at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.
  • Non-Diversification Risk.  The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified mutual funds. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.
  • Non-Hedging Foreign Currency Trading Risk.  The Fund may engage in forward foreign currency transactions for both hedging and non-hedging purposes. The Funds’ Investment Adviser may purchase or sell foreign currencies through the use of forward contracts based on the Investment Adviser’s judgment regarding the direction of the market for a particular foreign currency or currencies. In pursuing this strategy, the Investment Adviser seeks to profit from anticipated movements in currency rates by establishing “long” and/or “short” positions in forward contracts on various foreign currencies. Foreign exchange rates can be extremely volatile and a variance in the degree of volatility of the market or in the direction of the market from that anticipated by the Investment Adviser may produce significant losses to the Fund. Some of these transactions may also be subject to interest rate risk.
  • Non-Investment Grade Fixed Income Securities Risk.  Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as “junk bonds”) are considered speculative and are subject to the increased risk of an issuer’s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity
  • Sovereign Default Risk.  An issuer of non-U.S. sovereign debt held by the Fund or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay the principal or interest when due. This may result from political or social factors, the general economic environment of a country, levels of foreign debt or foreign currency exchange rates.
Performance
The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Investor and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart
The total return for Class A Shares for the six-month period ended
June 30, 2017 was 11.71%.

Best Quarter
Q2 ‘09              +16.25%

Worst Quarter
Q3 ‘11              –10.98%
AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Average Annual Total Returns - Goldman Sachs Local Emerging Markets Debt Fund
1 Year
5 Years
Since Inception
Inception Date
Class A Shares 3.28% (2.97%) (0.79%) Feb. 15, 2008
Class A Shares | Returns After Taxes on Distributions 1.41% (4.68%) (2.59%) Feb. 15, 2008
Class A Shares | Returns After Taxes on Distributions and Sale of Fund Shares 2.45% (2.61%) (1.00%) Feb. 15, 2008
Class A Shares | J.P. Morgan Government Bond Index—Emerging Markets (GBI-EMSM) Global Diversified Index (Gross, USD, Unhedged) (reflects no deduction for fees, expenses or taxes) 9.91% (1.29%) 2.20% Feb. 15, 2008
Class C Shares 6.36% (2.78%) (1.00%) Feb. 15, 2008
Class C Shares | J.P. Morgan Government Bond Index—Emerging Markets (GBI-EMSM) Global Diversified Index (Gross, USD, Unhedged) (reflects no deduction for fees, expenses or taxes) 9.91% (1.29%) 2.20% Feb. 15, 2008
Institutional Shares 8.56% (1.73%) 0.06% Feb. 15, 2008
Institutional Shares | J.P. Morgan Government Bond Index—Emerging Markets (GBI-EMSM) Global Diversified Index (Gross, USD, Unhedged) (reflects no deduction for fees, expenses or taxes) 9.91% (1.29%) 2.20% Feb. 15, 2008
Investor Shares 8.48% (1.85%) (1.26%) Jul. 30, 2010
Investor Shares | J.P. Morgan Government Bond Index—Emerging Markets (GBI-EMSM) Global Diversified Index (Gross, USD, Unhedged) (reflects no deduction for fees, expenses or taxes) 9.91% (1.29%) (0.37%) Jul. 30, 2010
Class T Shares [1] 3.28% (2.97%) (0.79%) Jul. 28, 2017
Class T Shares | J.P. Morgan Government Bond Index—Emerging Markets (GBI-EMSM) Global Diversified Index (Gross, USD, Unhedged) (reflects no deduction for fees, expenses or taxes) [1] 9.91% (1.29%) 2.20% Jul. 28, 2017
[1] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

XML 37 R72.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName GOLDMAN SACHS TRUST
Prospectus Date rr_ProspectusDate Jul. 28, 2017
Goldman Sachs Local Emerging Markets Debt Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Goldman Sachs Local Emerging Markets Debt Fund—Summary
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Goldman Sachs Local Emerging Markets Debt Fund (the “Fund”) seeks a high level of total return consisting of income and capital appreciation.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 71 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 75 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees
(fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination July 28, 2018
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 111% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 111.00%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock A contingent deferred sales charge (“CDSC”) of 1% is imposed on Class C Shares redeemed within 12 months of purchase.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 71 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 75 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates The “Other Expenses” for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent The Fund’s “Management Fees” have been restated to reflect current fees.

The Fund's “Total Annual Fund Operating Expenses After Fee Waiver and Expense Limitation” have been restated to reflect the fee waiver and expense limitations currently in effect.
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Investor and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Investor and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption Assuming complete redemption at end of period
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption Assuming no redemption
Strategy [Heading] rr_StrategyHeading Principal Strategy
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in sovereign and corporate debt securities of issuers in emerging market countries, denominated in the local currency of such emerging market countries, and other instruments, including credit linked notes and other investments, with similar economic exposures.

The Fund’s portfolio managers seek to build a portfolio across the emerging markets debt market consistent with the Fund’s overall risk budget and the views of the Investment Adviser’s Global Fixed Income top-down teams. As market conditions change, the volatility and attractiveness of sectors, securities and strategies can change as well. To optimize the Fund’s risk/return potential within its long-term risk budget, the portfolio managers may dynamically adjust the mix of top-down and bottom-up strategies in the Fund’s portfolio.

The Fund may invest in all types of foreign and emerging country fixed income securities, including the following:
  • Debt issued by governments, their agencies and instrumentalities, or by their central banks, including Brady Bonds;
  • Interests in structured securities;
  • Fixed and floating rate, senior and subordinated corporate debt obligations (such as bonds, debentures, notes and commercial paper);
  • Loan participations; and
  • Repurchase agreements with respect to the foregoing.
Foreign securities include securities of issuers located outside the U.S. or securities quoted or denominated in a currency other than the U.S. Dollar.

Currency investments, particularly longer-dated forward contracts, provide the Fund with economic exposure similar to investments in sovereign and corporate debt with respect to currency and interest rate exposure. The Investment Adviser intends to use structured securities and derivative instruments to attempt to improve the performance of the Fund or to gain exposure to certain countries or currencies in the Fund’s investment portfolio in accordance with its investment objective, and the Fund’s investments in these instruments may be significant. These transactions may result in substantial realized and unrealized capital gains and losses relative to the gains and losses from the Fund’s investments in bonds and other securities.

The Fund may invest in securities without regard to credit rating. The countries in which the Fund invests may have sovereign ratings that are below investment grade or are unrated. Moreover, to the extent the Fund invests in corporate or other privately issued debt obligations, many of the issuers of such obligations will be smaller companies with stock market capitalizations of $1 billion or less at the time of investment. Securities of these issuers may be rated below investment grade (so-called “high yield” or “junk” bonds) or unrated. Although a majority of the Fund’s assets will be denominated in non-U.S. Dollars, the Fund may invest in securities denominated in the U.S. Dollar.

For purposes of the Fund’s policy to invest at least 80% of its Net Assets in securities and instruments of “emerging market country” issuers, such countries include but are not limited to those considered to be developing by the World Bank. Generally, the Investment Adviser has broad discretion to identify other countries that it considers to qualify as emerging market countries. The majority of these countries are likely to be located in Africa, Asia, the Middle East, Eastern and Central Europe and Central and South America. Sovereign debt consists of debt securities issued by governments or any of their agencies, political subdivisions or instrumentalities, denominated in the local currency. Sovereign debt may also include nominal and real inflation-linked securities. In determining whether an issuer of corporate debt is in an emerging market country, the Investment Adviser will ordinarily do so by identifying the issuer’s “country of risk.” The issuer’s “country of risk” is determined based on a number of criteria, including its country of domicile, the primary stock exchange on which it trades, the location from which the majority of its revenue comes, and its reporting currency. Although the Investment Adviser will generally rely on an issuer’s “country of risk” as determined by Bloomberg, it is not required to do so.

The Fund’s target duration range under normal interest rate conditions is expected to approximate that of the J.P. Morgan Government Bond Index—Emerging Markets (GBI-EMSM) Global Diversified Index (Gross, USD, Unhedged) plus or minus 2 years, and over the last five years ended June 30, 2017, the duration of this Index has ranged between 4.06 and 5.10 years. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

The Fund may invest in the aggregate up to 20% of its Net Assets in investments other than emerging country fixed income securities, currency investments and related derivatives, including (without limitation) equity securities and fixed income securities, such as government, corporate and bank debt obligations, of developed country issuers.

The Fund’s benchmark index is the J.P. Morgan Government Bond Index—Emerging Markets (GBI-EMSM) Global Diversified Index (Gross, USD, Unhedged).

THE FUND IS NON-DIVERSIFIED UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED (THE “INVESTMENT COMPANY ACT”), AND MAY INVEST A LARGER PERCENTAGE OF ITS ASSETS IN FEWER ISSUERS THAN DIVERSIFIED MUTUAL FUNDS.
Risk [Heading] rr_RiskHeading Principal Risks of the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.
  • Counterparty Risk.  Many of the protections afforded to cleared transactions, such as the security afforded by transacting through a clearinghouse, might not be available in connection with over-the-counter (“OTC”) transactions. Therefore, in those instances in which the Fund enters into OTC transactions, the Fund will be subject to the risk that its direct counterparty will not perform its obligations under the transactions and that the Fund will sustain losses.
  • Credit/Default Risk.  An issuer or guarantor of fixed income securities or instruments held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant deterioration in net asset value (“NAV”). These risks are more pronounced in connection with the Fund’s investments in non-investment grade fixed income securities.
  • Derivatives Risk.  The Fund’s use of structured securities and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligations. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund’s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund’s ability to invest in derivatives and other instruments and adversely affect the Fund’s performance and ability to pursue its investment objectives.
  • Foreign and Emerging Countries Risk.  Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls, sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. These risks may be more pronounced in connection with the Fund’s investments in securities of issuers located in emerging countries.
  • Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rate are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.
  • Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.
  • Liquidity Risk.  The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests or other reasons. To meet redemption requests, the Fund may be forced to sell securities at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.
  • Non-Diversification Risk.  The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified mutual funds. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.
  • Non-Hedging Foreign Currency Trading Risk.  The Fund may engage in forward foreign currency transactions for both hedging and non-hedging purposes. The Funds’ Investment Adviser may purchase or sell foreign currencies through the use of forward contracts based on the Investment Adviser’s judgment regarding the direction of the market for a particular foreign currency or currencies. In pursuing this strategy, the Investment Adviser seeks to profit from anticipated movements in currency rates by establishing “long” and/or “short” positions in forward contracts on various foreign currencies. Foreign exchange rates can be extremely volatile and a variance in the degree of volatility of the market or in the direction of the market from that anticipated by the Investment Adviser may produce significant losses to the Fund. Some of these transactions may also be subject to interest rate risk.
  • Non-Investment Grade Fixed Income Securities Risk.  Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as “junk bonds”) are considered speculative and are subject to the increased risk of an issuer’s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity
  • Sovereign Default Risk.  An issuer of non-U.S. sovereign debt held by the Fund or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay the principal or interest when due. This may result from political or social factors, the general economic environment of a country, levels of foreign debt or foreign currency exchange rates.
Risk Lose Money [Text] rr_RiskLoseMoney Loss of money is a risk of investing in the Fund.
Risk Nondiversified Status [Text] rr_RiskNondiversifiedStatus
  • Non-Diversification Risk.  The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified mutual funds. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Investor and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Investor and Class T Shares compare to those of a broad-based securities market index.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess As of the date of the Prospectus, Class T Shares have not commenced operations.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.gsamfunds.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The total return for Class A Shares for the six-month period ended
June 30, 2017 was 11.71%.

Best Quarter
Q2 ‘09              +16.25%

Worst Quarter
Q3 ‘11              –10.98%
Performance Table Heading rr_PerformanceTableHeading AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Performance Table Does Reflect Sales Loads rr_PerformanceTableDoesReflectSalesLoads Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Goldman Sachs Local Emerging Markets Debt Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 4.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 30 calendar days or less) rr_RedemptionFeeOverRedemption 2.00%
Management Fees rr_ManagementFeesOverAssets 0.80% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.31%
Other Expenses rr_OtherExpensesOverAssets 0.31% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.36%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.14%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.22% [5]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 100,000
1 Year rr_ExpenseExampleYear01 569
3 Years rr_ExpenseExampleYear03 848
5 Years rr_ExpenseExampleYear05 1,148
10 Years rr_ExpenseExampleYear10 $ 2,000
2009 rr_AnnualReturn2009 26.48%
2010 rr_AnnualReturn2010 15.34%
2011 rr_AnnualReturn2011 (4.84%)
2012 rr_AnnualReturn2012 20.40%
2013 rr_AnnualReturn2013 (10.13%)
2014 rr_AnnualReturn2014 (7.84%)
2015 rr_AnnualReturn2015 (16.58%)
2016 rr_AnnualReturn2016 8.21%
Year to Date Return, Label rr_YearToDateReturnLabel total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 11.71%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 16.25%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (10.98%)
1 Year rr_AverageAnnualReturnYear01 3.28%
5 Years rr_AverageAnnualReturnYear05 (2.97%)
Since Inception rr_AverageAnnualReturnSinceInception (0.79%)
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 15, 2008
Goldman Sachs Local Emerging Markets Debt Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 30 calendar days or less) rr_RedemptionFeeOverRedemption 2.00%
Management Fees rr_ManagementFeesOverAssets 0.80% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
All Other Expenses rr_Component3OtherExpensesOverAssets 0.31%
Other Expenses rr_OtherExpensesOverAssets 0.56% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.11%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.14%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.97% [5]
1 Year rr_ExpenseExampleYear01 $ 300
3 Years rr_ExpenseExampleYear03 647
5 Years rr_ExpenseExampleYear05 1,121
10 Years rr_ExpenseExampleYear10 2,430
1 Year rr_ExpenseExampleNoRedemptionYear01 200
3 Years rr_ExpenseExampleNoRedemptionYear03 647
5 Years rr_ExpenseExampleNoRedemptionYear05 1,121
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,430
1 Year rr_AverageAnnualReturnYear01 6.36%
5 Years rr_AverageAnnualReturnYear05 (2.78%)
Since Inception rr_AverageAnnualReturnSinceInception (1.00%)
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 15, 2008
Goldman Sachs Local Emerging Markets Debt Fund | Institutional  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 30 calendar days or less) rr_RedemptionFeeOverRedemption 2.00%
Management Fees rr_ManagementFeesOverAssets 0.80% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.22%
Other Expenses rr_OtherExpensesOverAssets 0.22% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.02%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.10%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.92% [5]
1 Year rr_ExpenseExampleYear01 $ 94
3 Years rr_ExpenseExampleYear03 315
5 Years rr_ExpenseExampleYear05 554
10 Years rr_ExpenseExampleYear10 $ 1,239
1 Year rr_AverageAnnualReturnYear01 8.56%
5 Years rr_AverageAnnualReturnYear05 (1.73%)
Since Inception rr_AverageAnnualReturnSinceInception 0.06%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 15, 2008
Goldman Sachs Local Emerging Markets Debt Fund | Investor  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 30 calendar days or less) rr_RedemptionFeeOverRedemption 2.00%
Management Fees rr_ManagementFeesOverAssets 0.80% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.31%
Other Expenses rr_OtherExpensesOverAssets 0.31% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.11%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.14%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.97% [5]
1 Year rr_ExpenseExampleYear01 $ 99
3 Years rr_ExpenseExampleYear03 339
5 Years rr_ExpenseExampleYear05 598
10 Years rr_ExpenseExampleYear10 $ 1,339
1 Year rr_AverageAnnualReturnYear01 8.48%
5 Years rr_AverageAnnualReturnYear05 (1.85%)
Since Inception rr_AverageAnnualReturnSinceInception (1.26%)
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 30, 2010
Goldman Sachs Local Emerging Markets Debt Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Redemption Fee (as a percentage of amount redeemed, imposed on the redemption of shares held for 30 calendar days or less) rr_RedemptionFeeOverRedemption 2.00%
Management Fees rr_ManagementFeesOverAssets 0.80% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.31%
Other Expenses rr_OtherExpensesOverAssets 0.31% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.36%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.14%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.22% [5]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
1 Year rr_ExpenseExampleYear01 371
3 Years rr_ExpenseExampleYear03 657
5 Years rr_ExpenseExampleYear05 963
10 Years rr_ExpenseExampleYear10 $ 1,832
1 Year rr_AverageAnnualReturnYear01 3.28% [6]
5 Years rr_AverageAnnualReturnYear05 (2.97%) [6]
Since Inception rr_AverageAnnualReturnSinceInception (0.79%) [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [6]
Goldman Sachs Local Emerging Markets Debt Fund | Returns After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.41%
5 Years rr_AverageAnnualReturnYear05 (4.68%)
Since Inception rr_AverageAnnualReturnSinceInception (2.59%)
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 15, 2008
Goldman Sachs Local Emerging Markets Debt Fund | Returns After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.45%
5 Years rr_AverageAnnualReturnYear05 (2.61%)
Since Inception rr_AverageAnnualReturnSinceInception (1.00%)
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 15, 2008
Goldman Sachs Local Emerging Markets Debt Fund | J.P. Morgan Government Bond Index—Emerging Markets (GBI-EMSM) Global Diversified Index (Gross, USD, Unhedged) (reflects no deduction for fees, expenses or taxes) | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 9.91%
5 Years rr_AverageAnnualReturnYear05 (1.29%)
Since Inception rr_AverageAnnualReturnSinceInception 2.20%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 15, 2008
Goldman Sachs Local Emerging Markets Debt Fund | J.P. Morgan Government Bond Index—Emerging Markets (GBI-EMSM) Global Diversified Index (Gross, USD, Unhedged) (reflects no deduction for fees, expenses or taxes) | Class C  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 9.91%
5 Years rr_AverageAnnualReturnYear05 (1.29%)
Since Inception rr_AverageAnnualReturnSinceInception 2.20%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 15, 2008
Goldman Sachs Local Emerging Markets Debt Fund | J.P. Morgan Government Bond Index—Emerging Markets (GBI-EMSM) Global Diversified Index (Gross, USD, Unhedged) (reflects no deduction for fees, expenses or taxes) | Institutional  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 9.91%
5 Years rr_AverageAnnualReturnYear05 (1.29%)
Since Inception rr_AverageAnnualReturnSinceInception 2.20%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 15, 2008
Goldman Sachs Local Emerging Markets Debt Fund | J.P. Morgan Government Bond Index—Emerging Markets (GBI-EMSM) Global Diversified Index (Gross, USD, Unhedged) (reflects no deduction for fees, expenses or taxes) | Investor  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 9.91%
5 Years rr_AverageAnnualReturnYear05 (1.29%)
Since Inception rr_AverageAnnualReturnSinceInception (0.37%)
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 30, 2010
Goldman Sachs Local Emerging Markets Debt Fund | J.P. Morgan Government Bond Index—Emerging Markets (GBI-EMSM) Global Diversified Index (Gross, USD, Unhedged) (reflects no deduction for fees, expenses or taxes) | Class T  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 9.91% [6]
5 Years rr_AverageAnnualReturnYear05 (1.29%) [6]
Since Inception rr_AverageAnnualReturnSinceInception 2.20% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [6]
[1] A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase.
[2] The Fund's "Management Fees" have been restated to reflect current fees.
[3] The "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[4] The Investment Adviser has agreed to reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification, and extraordinary expenses) to 0.074% of the Fund's average daily net assets. Additionally, Goldman Sachs & Co. LLC ("Goldman Sachs"), the Fund's transfer agent, has agreed to waive a portion of its transfer agency fee (a component of "Other Expenses") equal to 0.04% as an annual percentage rate of the average daily net assets attributable to Class A, Class C, Investor and Class T Shares of the Fund. These arrangements will remain in effect through at least July 28, 2018, and prior to such date, the Investment Adviser and Goldman Sachs may not terminate the arrangements without the approval of the Board of Trustees. The Fund's "Total Annual Fund Operating Expenses After Fee Waiver and Expense Limitation" have been restated to reflect the fee waiver and expense limitations currently in effect.
[5] After Fee Waiver and Expense Limitation
[6] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
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Goldman Sachs U.S. Mortgages Fund
Goldman Sachs U.S. Mortgages Fund—Summary
Investment Objective
The Goldman Sachs U.S. Mortgages Fund (the “Fund”) seeks a high level of total return consisting of income and capital appreciation.
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 71 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 75 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees
(fees paid directly from your investment)
Shareholder Fees - Goldman Sachs U.S. Mortgages Fund
Class A
Institutional
Investor
Separate Account Institutional
Class R6
Class T
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 3.75% none none none none 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) none none none none none none
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses - Goldman Sachs U.S. Mortgages Fund
Class A
Institutional
Investor
Separate Account Institutional
Class R6
Class T
Management Fees [1] 0.34% 0.34% 0.34% 0.34% 0.34% 0.34%
Distribution and Service (12b-1) Fees 0.25% none none none none 0.25%
Other Expenses [2] 0.28% 0.19% 0.28% 0.19% 0.18% 0.28%
Acquired Fund Fees and Expenses 0.03% 0.03% 0.03% 0.03% 0.03% 0.03%
Total Annual Fund Operating Expenses [3] 0.90% 0.56% 0.65% 0.56% 0.55% 0.90%
Fee Waiver and Expense Limitation [4] (0.11%) (0.11%) (0.11%) (0.11%) (0.11%) (0.11%)
Total Annual Fund Operating Expenses [3],[5] 0.79% 0.45% 0.54% 0.45% 0.44% 0.79%
[1] The Fund's "Management Fees" have been restated to reflect current fees.
[2] The "Other Expenses" for Class R6 Shares have been restated and the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[3] The "Total Annual Fund Operating Expenses" do not correlate to the ratios of net and total expenses to average net assets provided in the Financial Highlights, which reflect the operating expenses of the Fund and do not include "Acquired Fund Fees and Expenses."
[4] The Investment Adviser has agreed to (i) waive a portion of its management fee payable by the Fund in an amount equal to any management fee it earns as an investment adviser to any of the affiliated funds in which the Fund invests; and (ii) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification, and extraordinary expenses) to 0.074% of the Fund's average daily net assets. These arrangements will remain in effect through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangements without the approval of the Board of Trustees. The Fund's "Total Annual Fund Operating Expenses After Fee Waiver and Expense Limitation" have been restated to reflect the fee waiver and expense limitation currently in effect.
[5] After Fee Waiver and Expense Limitation
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Institutional, Investor, Separate Account Institutional, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Institutional, Investor, Separate Account Institutional, Class R6 and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example - Goldman Sachs U.S. Mortgages Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A Shares 453 641 844 1,432
Institutional Shares 46 168 302 691
Investor Shares 55 197 351 800
Separate Account Institutional Shares 46 168 302 691
Class R6 Shares 45 165 296 679
Class T Shares 329 519 726 1,320
Portfolio Turnover
The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 863% of the average value of its portfolio.
Principal Strategy
The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in securities representing direct or indirect interests in or that are collateralized by adjustable rate and fixed rate mortgage loans or other mortgage-related securities (“Mortgage-Backed Securities”) of U.S. issuers. The Fund may also invest in mortgage dollar rolls, securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises (“U.S. Government Securities”), asset-backed securities and foreign securities. The Fund also intends to invest in derivatives, including (but not limited to) interest rate futures, interest rate swaps and credit default swaps, primarily to manage the Fund’s duration, hedge the Fund’s portfolio risks, and/or gain exposure to certain fixed income securities.

The Fund’s investments must be rated, at the time of purchase, at least BBB– by Standard & Poor’s Ratings Services (“Standard & Poor’s”), at least Baa3 by Moody’s Investors Service, Inc. (“Moody’s”), or have a comparable credit rating by another nationally recognized statistical rating organization (“NRSRO”) or, if unrated, must be determined by the Investment Adviser to be of comparable credit quality.

The Fund’s target duration range under normal interest rate conditions is expected to approximate that of the Bloomberg Barclays U.S. Securitized Bond Index plus or minus 0.5 years, and over the past five years ended June 30, 2017, the duration of this Index has ranged between 2.26 and 5.02 years. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

The Fund’s portfolio managers seek to build a portfolio consisting of their “best ideas” across the U.S. mortgages market consistent with the Fund’s overall risk budget and the views of the Investment Adviser’s Global Fixed Income top-down teams. As market conditions change, the volatility and attractiveness of sectors, securities and strategies can change as well. To optimize the Fund’s risk/return potential within its long-term risk budget, the portfolio managers may dynamically adjust the mix of top-down and bottom-up strategies in the Fund’s portfolio.

The Fund’s benchmark index is the Bloomberg Barclays U.S. Securitized Bond Index.
Principal Risks of the Fund
Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.
  • Credit/Default Risk.  An issuer or guarantor of fixed income securities or instruments held by the Fund may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant deterioration in net asset value (“NAV”).
  • Derivatives Risk.  The Fund’s use of interest rate futures, interest rate swaps, credit default swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligations. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund’s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund’s ability to invest in derivatives and other instruments and adversely affect the Fund’s performance and ability to pursue its investment objectives.
  • Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rate are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.
  • Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.
  • Mortgage-Backed and Other Asset-Backed Securities Risk.  Mortgage-related and other asset-backed securities are subject to certain additional risks, including “extension risk” (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and “prepayment risk” (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Mortgage-backed securities offered by non-governmental issuers are subject to other risks as well, including failures of private insurers to meet their obligations and unexpectedly high rates of default on the mortgages backing the securities. Other asset-backed securities are subject to risks similar to those associated with mortgage-backed securities, as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.
  • U.S. Government Securities Risk.  The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by the Federal National Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the U.S. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including their legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future.
Performance
The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Institutional, Investor, Separate Account Institutional, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart
The total return for Class A Shares for the six-month period ended
June 30, 2017 was 0.95%.

Best Quarter
Q3 ‘09              +4.75%

Worst Quarter
Q1 ‘08              –2.43%
AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Average Annual Total Returns - Goldman Sachs U.S. Mortgages Fund
1 Year
5 Years
10 Years
Since Inception
Inception Date
Class A Shares (2.19%) 1.73% 3.32% 3.48% Nov. 03, 2003
Class A Shares | Returns After Taxes on Distributions (3.14%) 0.70% 2.15% 2.23% Nov. 03, 2003
Class A Shares | Returns After Taxes on Distributions and Sale of Fund Shares (1.24%) 0.89% 2.10% 2.20% Nov. 03, 2003
Class A Shares | Bloomberg Barclays U.S. Securitized Bond Index (reflects no deduction for fees or expenses) 1.77% 2.14% 4.22% 4.24% Nov. 03, 2003
Institutional Shares 1.85% 2.84% 4.09% 4.16% Nov. 03, 2003
Institutional Shares | Bloomberg Barclays U.S. Securitized Bond Index (reflects no deduction for fees or expenses) 1.77% 2.14% 4.22% 4.24% Nov. 03, 2003
Investor Shares 1.76% 2.80% 2.93% Jul. 29, 2011
Investor Shares | Bloomberg Barclays U.S. Securitized Bond Index (reflects no deduction for fees or expenses) 1.77% 2.14% 2.38% Jul. 29, 2011
Separate Account Institutional Shares 1.94% 2.84% 4.10% 4.18% Nov. 03, 2003
Separate Account Institutional Shares | Bloomberg Barclays U.S. Securitized Bond Index (reflects no deduction for fees or expenses) 1.77% 2.14% 4.22% 4.24% Nov. 03, 2003
Class R6 Shares [1] 1.96% 2.86% 4.10% 4.17% Jul. 31, 2015
Class R6 Shares | Bloomberg Barclays U.S. Securitized Bond Index (reflects no deduction for fees or expenses) [1] 1.77% 2.14% 4.22% 4.24% Jul. 31, 2015
Class T Shares [2] (2.19%) 1.73% 3.32% 3.48% Jul. 28, 2017
Class T Shares | Bloomberg Barclays U.S. Securitized Bond Index (reflects no deduction for fees or expenses) [2] 1.77% 2.14% 4.22% 4.24% Jul. 28, 2017
[1] Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of the Class R6 Shares shown in the table above is that of the Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses.
[2] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
The after-tax returns are for Class A Shares only. The after-tax returns for Institutional, Investor, Separate Account Institutional and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 40 R79.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName GOLDMAN SACHS TRUST
Prospectus Date rr_ProspectusDate Jul. 28, 2017
Goldman Sachs U.S. Mortgages Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Goldman Sachs U.S. Mortgages Fund—Summary
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Goldman Sachs U.S. Mortgages Fund (the “Fund”) seeks a high level of total return consisting of income and capital appreciation.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 71 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 75 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees
(fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination July 28, 2018
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 863% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 863.00%
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 71 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 75 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 120 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates the “Other Expenses” for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent The Fund’s “Management Fees” have been restated to reflect current fees.

The “Other Expenses” for Class R6 Shares have been restated

The Fund's "Total Annual Fund Operating Expenses After Fee Waiver and Expense Limitation" have been restated to reflect the fee waiver and expense limitation currently in effect.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees The “Total Annual Fund Operating Expenses” do not correlate to the ratios of net and total expenses to average net assets provided in the Financial Highlights, which reflect the operating expenses of the Fund and do not include “Acquired Fund Fees and Expenses.”
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Institutional, Investor, Separate Account Institutional, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Institutional, Investor, Separate Account Institutional, Class R6 and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading Principal Strategy
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in securities representing direct or indirect interests in or that are collateralized by adjustable rate and fixed rate mortgage loans or other mortgage-related securities (“Mortgage-Backed Securities”) of U.S. issuers. The Fund may also invest in mortgage dollar rolls, securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises (“U.S. Government Securities”), asset-backed securities and foreign securities. The Fund also intends to invest in derivatives, including (but not limited to) interest rate futures, interest rate swaps and credit default swaps, primarily to manage the Fund’s duration, hedge the Fund’s portfolio risks, and/or gain exposure to certain fixed income securities.

The Fund’s investments must be rated, at the time of purchase, at least BBB– by Standard & Poor’s Ratings Services (“Standard & Poor’s”), at least Baa3 by Moody’s Investors Service, Inc. (“Moody’s”), or have a comparable credit rating by another nationally recognized statistical rating organization (“NRSRO”) or, if unrated, must be determined by the Investment Adviser to be of comparable credit quality.

The Fund’s target duration range under normal interest rate conditions is expected to approximate that of the Bloomberg Barclays U.S. Securitized Bond Index plus or minus 0.5 years, and over the past five years ended June 30, 2017, the duration of this Index has ranged between 2.26 and 5.02 years. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

The Fund’s portfolio managers seek to build a portfolio consisting of their “best ideas” across the U.S. mortgages market consistent with the Fund’s overall risk budget and the views of the Investment Adviser’s Global Fixed Income top-down teams. As market conditions change, the volatility and attractiveness of sectors, securities and strategies can change as well. To optimize the Fund’s risk/return potential within its long-term risk budget, the portfolio managers may dynamically adjust the mix of top-down and bottom-up strategies in the Fund’s portfolio.

The Fund’s benchmark index is the Bloomberg Barclays U.S. Securitized Bond Index.
Risk [Heading] rr_RiskHeading Principal Risks of the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.
  • Credit/Default Risk.  An issuer or guarantor of fixed income securities or instruments held by the Fund may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant deterioration in net asset value (“NAV”).
  • Derivatives Risk.  The Fund’s use of interest rate futures, interest rate swaps, credit default swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligations. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund’s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund’s ability to invest in derivatives and other instruments and adversely affect the Fund’s performance and ability to pursue its investment objectives.
  • Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rate are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.
  • Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.
  • Mortgage-Backed and Other Asset-Backed Securities Risk.  Mortgage-related and other asset-backed securities are subject to certain additional risks, including “extension risk” (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and “prepayment risk” (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Mortgage-backed securities offered by non-governmental issuers are subject to other risks as well, including failures of private insurers to meet their obligations and unexpectedly high rates of default on the mortgages backing the securities. Other asset-backed securities are subject to risks similar to those associated with mortgage-backed securities, as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.
  • U.S. Government Securities Risk.  The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by the Federal National Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the U.S. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including their legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future.
Risk Lose Money [Text] rr_RiskLoseMoney Loss of money is a risk of investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Institutional, Investor, Separate Account Institutional, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Institutional, Investor, Separate Account Institutional, Class R6 and Class T Shares compare to those of a broad-based securities market index.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess As of the date of the Prospectus, Class T Shares have not commenced operations.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.gsamfunds.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The total return for Class A Shares for the six-month period ended
June 30, 2017 was 0.95%.

Best Quarter
Q3 ‘09              +4.75%

Worst Quarter
Q1 ‘08              –2.43%
Performance Table Heading rr_PerformanceTableHeading AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Performance Table Does Reflect Sales Loads rr_PerformanceTableDoesReflectSalesLoads Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown The after-tax returns are for Class A Shares only. The after-tax returns for Institutional, Investor, Separate Account Institutional and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The after-tax returns are for Class A Shares only. The after-tax returns for Institutional, Investor, Separate Account Institutional and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Goldman Sachs U.S. Mortgages Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 3.75%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets 0.34% [1]
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.28% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.03%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.90% [3]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.11%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.79% [3],[5]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 100,000
1 Year rr_ExpenseExampleYear01 453
3 Years rr_ExpenseExampleYear03 641
5 Years rr_ExpenseExampleYear05 844
10 Years rr_ExpenseExampleYear10 $ 1,432
2007 rr_AnnualReturn2007 5.93%
2008 rr_AnnualReturn2008 (3.55%)
2009 rr_AnnualReturn2009 11.75%
2010 rr_AnnualReturn2010 6.23%
2011 rr_AnnualReturn2011 5.02%
2012 rr_AnnualReturn2012 5.22%
2013 rr_AnnualReturn2013 (0.92%)
2014 rr_AnnualReturn2014 5.72%
2015 rr_AnnualReturn2015 1.09%
2016 rr_AnnualReturn2016 1.60%
Year to Date Return, Label rr_YearToDateReturnLabel total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 0.95%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 4.75%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Mar. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (2.43%)
1 Year rr_AverageAnnualReturnYear01 (2.19%)
5 Years rr_AverageAnnualReturnYear05 1.73%
10 Years rr_AverageAnnualReturnYear10 3.32%
Since Inception rr_AverageAnnualReturnSinceInception 3.48%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 03, 2003
Goldman Sachs U.S. Mortgages Fund | Institutional  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets 0.34% [1]
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.19% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.03%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.56% [3]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.11%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.45% [3],[5]
1 Year rr_ExpenseExampleYear01 $ 46
3 Years rr_ExpenseExampleYear03 168
5 Years rr_ExpenseExampleYear05 302
10 Years rr_ExpenseExampleYear10 $ 691
1 Year rr_AverageAnnualReturnYear01 1.85%
5 Years rr_AverageAnnualReturnYear05 2.84%
10 Years rr_AverageAnnualReturnYear10 4.09%
Since Inception rr_AverageAnnualReturnSinceInception 4.16%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 03, 2003
Goldman Sachs U.S. Mortgages Fund | Investor  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets 0.34% [1]
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.28% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.03%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.65% [3]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.11%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.54% [3],[5]
1 Year rr_ExpenseExampleYear01 $ 55
3 Years rr_ExpenseExampleYear03 197
5 Years rr_ExpenseExampleYear05 351
10 Years rr_ExpenseExampleYear10 $ 800
1 Year rr_AverageAnnualReturnYear01 1.76%
5 Years rr_AverageAnnualReturnYear05 2.80%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 2.93%
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 29, 2011
Goldman Sachs U.S. Mortgages Fund | Separate Account Institutional  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets 0.34% [1]
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.19% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.03%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.56% [3]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.11%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.45% [3],[5]
1 Year rr_ExpenseExampleYear01 $ 46
3 Years rr_ExpenseExampleYear03 168
5 Years rr_ExpenseExampleYear05 302
10 Years rr_ExpenseExampleYear10 $ 691
1 Year rr_AverageAnnualReturnYear01 1.94%
5 Years rr_AverageAnnualReturnYear05 2.84%
10 Years rr_AverageAnnualReturnYear10 4.10%
Since Inception rr_AverageAnnualReturnSinceInception 4.18%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 03, 2003
Goldman Sachs U.S. Mortgages Fund | Class R6  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets 0.34% [1]
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.18% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.03%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.55% [3]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.11%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.44% [3],[5]
1 Year rr_ExpenseExampleYear01 $ 45
3 Years rr_ExpenseExampleYear03 165
5 Years rr_ExpenseExampleYear05 296
10 Years rr_ExpenseExampleYear10 $ 679
1 Year rr_AverageAnnualReturnYear01 1.96% [6]
5 Years rr_AverageAnnualReturnYear05 2.86% [6]
10 Years rr_AverageAnnualReturnYear10 4.10% [6]
Since Inception rr_AverageAnnualReturnSinceInception 4.17% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [6]
Goldman Sachs U.S. Mortgages Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets 0.34% [1]
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.28% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.03%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.90% [3]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.11%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.79% [3],[5]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
1 Year rr_ExpenseExampleYear01 329
3 Years rr_ExpenseExampleYear03 519
5 Years rr_ExpenseExampleYear05 726
10 Years rr_ExpenseExampleYear10 $ 1,320
1 Year rr_AverageAnnualReturnYear01 (2.19%) [7]
5 Years rr_AverageAnnualReturnYear05 1.73% [7]
10 Years rr_AverageAnnualReturnYear10 3.32% [7]
Since Inception rr_AverageAnnualReturnSinceInception 3.48% [7]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [7]
Goldman Sachs U.S. Mortgages Fund | Returns After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (3.14%)
5 Years rr_AverageAnnualReturnYear05 0.70%
10 Years rr_AverageAnnualReturnYear10 2.15%
Since Inception rr_AverageAnnualReturnSinceInception 2.23%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 03, 2003
Goldman Sachs U.S. Mortgages Fund | Returns After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (1.24%)
5 Years rr_AverageAnnualReturnYear05 0.89%
10 Years rr_AverageAnnualReturnYear10 2.10%
Since Inception rr_AverageAnnualReturnSinceInception 2.20%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 03, 2003
Goldman Sachs U.S. Mortgages Fund | Bloomberg Barclays U.S. Securitized Bond Index (reflects no deduction for fees or expenses) | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.77%
5 Years rr_AverageAnnualReturnYear05 2.14%
10 Years rr_AverageAnnualReturnYear10 4.22%
Since Inception rr_AverageAnnualReturnSinceInception 4.24%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 03, 2003
Goldman Sachs U.S. Mortgages Fund | Bloomberg Barclays U.S. Securitized Bond Index (reflects no deduction for fees or expenses) | Institutional  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.77%
5 Years rr_AverageAnnualReturnYear05 2.14%
10 Years rr_AverageAnnualReturnYear10 4.22%
Since Inception rr_AverageAnnualReturnSinceInception 4.24%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 03, 2003
Goldman Sachs U.S. Mortgages Fund | Bloomberg Barclays U.S. Securitized Bond Index (reflects no deduction for fees or expenses) | Investor  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.77%
5 Years rr_AverageAnnualReturnYear05 2.14%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 2.38%
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 29, 2011
Goldman Sachs U.S. Mortgages Fund | Bloomberg Barclays U.S. Securitized Bond Index (reflects no deduction for fees or expenses) | Separate Account Institutional  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.77%
5 Years rr_AverageAnnualReturnYear05 2.14%
10 Years rr_AverageAnnualReturnYear10 4.22%
Since Inception rr_AverageAnnualReturnSinceInception 4.24%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 03, 2003
Goldman Sachs U.S. Mortgages Fund | Bloomberg Barclays U.S. Securitized Bond Index (reflects no deduction for fees or expenses) | Class R6  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.77% [6]
5 Years rr_AverageAnnualReturnYear05 2.14% [6]
10 Years rr_AverageAnnualReturnYear10 4.22% [6]
Since Inception rr_AverageAnnualReturnSinceInception 4.24% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [6]
Goldman Sachs U.S. Mortgages Fund | Bloomberg Barclays U.S. Securitized Bond Index (reflects no deduction for fees or expenses) | Class T  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.77% [7]
5 Years rr_AverageAnnualReturnYear05 2.14% [7]
10 Years rr_AverageAnnualReturnYear10 4.22% [7]
Since Inception rr_AverageAnnualReturnSinceInception 4.24% [7]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [7]
[1] The Fund's "Management Fees" have been restated to reflect current fees.
[2] The "Other Expenses" for Class R6 Shares have been restated and the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[3] The "Total Annual Fund Operating Expenses" do not correlate to the ratios of net and total expenses to average net assets provided in the Financial Highlights, which reflect the operating expenses of the Fund and do not include "Acquired Fund Fees and Expenses."
[4] The Investment Adviser has agreed to (i) waive a portion of its management fee payable by the Fund in an amount equal to any management fee it earns as an investment adviser to any of the affiliated funds in which the Fund invests; and (ii) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification, and extraordinary expenses) to 0.074% of the Fund's average daily net assets. These arrangements will remain in effect through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangements without the approval of the Board of Trustees. The Fund's "Total Annual Fund Operating Expenses After Fee Waiver and Expense Limitation" have been restated to reflect the fee waiver and expense limitation currently in effect.
[5] After Fee Waiver and Expense Limitation
[6] Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of the Class R6 Shares shown in the table above is that of the Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses.
[7] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
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Goldman Sachs Bond Fund
Goldman Sachs Bond Fund—Summary
Investment Objective
The Goldman Sachs Bond Fund (the “Fund”) seeks a total return consisting of capital appreciation and income that exceeds the total return of the Bloomberg Barclays U.S. Aggregate Bond Index (the “Index”).
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 49 and “Shareholder Guide-Common Questions Applicable to the Purchase of Class T Shares” beginning on page 53 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 90 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees
(fees paid directly from your investment)
Shareholder Fees - Goldman Sachs Bond Fund
Class A
Class C
Institutional
Service
Investor
Class R
Class R6
Class T
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 3.75% none none none none none none 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) [1] none 1.00% none none none none none none
[1] A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase.
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses - Goldman Sachs Bond Fund
Class A
Class C
Institutional
Service
Investor
Class R
Class R6
Class T
Management Fees [1] 0.41% 0.41% 0.41% 0.41% 0.41% 0.41% 0.41% 0.41%
Distribution and/or Service (12b-1) Fees 0.25% 0.75% none 0.25% none 0.50% none 0.25%
Other Expenses [2] 0.27% 0.52% 0.18% 0.43% 0.27% 0.27% 0.16% 0.27%
Service Fees none 0.25% none none none none none none
Shareholder Administration Fees none none none 0.25% none none none none
All Other Expenses 0.27% 0.27% 0.18% 0.18% 0.27% 0.27% 0.16% 0.27%
Acquired Fund Fees and Expenses 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
Total Annual Fund Operating Expenses [3] 0.94% 1.69% 0.60% 1.10% 0.69% 1.19% 0.58% 0.94%
Expense Limitation [4] (0.15%) (0.15%) (0.15%) (0.15%) (0.15%) (0.15%) (0.14%) (0.15%)
Total Annual Fund Operating Expenses [3],[5] 0.79% 1.54% 0.45% 0.95% 0.54% 1.04% 0.44% 0.79%
[1] The Fund's "Management Fees" have been restated to reflect current fees.
[2] The "Other Expenses" for Class R6 Shares have been restated and the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[3] The "Total Annual Fund Operating Expenses" do not correlate to the ratios of net and total expenses to average net assets provided in the Financial Highlights, which reflect the operating expenses of the Fund and do not include "Acquired Fund Fees and Expenses."
[4] The Investment Adviser has agreed to reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, shareholder administration fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.004% of the Fund's average daily net assets. This arrangement will remain in effect through at least July 28, 2018 and prior to such date the Investment Adviser may not terminate the arrangements without the approval of the Board of Trustees. GSAM has agreed to waive a portion of its management fee payable by the Fund in an amount equal to any management fees it earns as an investment adviser to any of the affiliated funds in which the Fund invests through at least July 28, 2018. Prior to such date, GSAM may not terminate the arrangement without the approval of the Trustees.
[5] After Expense Limitation
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and/or Class T Shares at the end of those periods, unless otherwise stated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the expense limitation arrangement for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Assuming complete redemption at end of period
Expense Example - Goldman Sachs Bond Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A Shares 453 649 862 1,473
Class C Shares 257 518 904 1,985
Institutional Shares 46 177 320 736
Service Shares 97 335 592 1,327
Investor Shares 55 206 369 844
Class R Shares 106 363 640 1,430
Class R6 Shares 45 172 310 712
Class T Shares 329 528 743 1,362
Assuming no redemption
Expense Example, No Redemption
1 Year
3 Years
5 Years
10 Years
Goldman Sachs Bond Fund | Class C Shares | USD ($) 157 518 904 1,985
Portfolio Turnover
The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in the annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 517% of the average value of its portfolio.
Principal Strategy
The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in bonds and other fixed income securities, including securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises (“U.S. Government Securities”), corporate debt securities, collateralized loan obligations, privately issued adjustable rate and fixed rate mortgage loans or other mortgage-related securities (“Mortgage-Backed Securities”), asset-backed securities, high yield non-investment grade securities (securities rated BB+, Ba1 or below by a nationally recognized statistical rating organization (“NRSRO”) or, if unrated, determined by the Investment Adviser to be of comparable credit quality). The Fund may also invest in custodial receipts, fixed income securities issued by or on behalf of states, territories, and possessions of the United States (including the District of Columbia) (“Municipal Securities”) and convertible securities. The Fund may also engage in forward foreign currency transactions for both hedging and non-hedging purposes. The Fund also intends to invest in derivatives, including (but not limited to) forwards, interest rate futures, interest rate swaps and credit default swaps, which are used primarily to hedge the Fund’s portfolio risks, manage the Fund’s duration and/or gain exposure to certain fixed income securities or indices. The Fund may invest in obligations of domestic and foreign issuers which are denominated in currencies other than the U.S. dollar. The Fund may invest up to 15% of its total assets measured at the time of purchase (“Total Assets”) in sovereign and corporate debt securities and other instruments of issuers in emerging market countries (“emerging countries debt”). In pursuing its investment objective, the Fund uses the Index as its performance benchmark, but the Fund will not attempt to replicate the Index. The Fund may, therefore, invest in securities that are not included in the Index. The Fund may also purchase securities of issuers in default.

The Fund’s investments in non-investment grade securities (i.e., junk bonds) will not exceed 25% of its Total Assets at the time of purchase. Otherwise, the Fund invests in fixed income securities rated at least BBB– or Baa3 at the time of purchase. Securities will either be rated by an NRSRO or, if unrated, determined by the Investment Adviser to be of comparable credit quality.

The Fund’s target duration range under normal interest rate conditions is expected to approximate that of the Index, plus or minus 2.5 years, and over the last five years ended June 30, 2017, the duration of the Index has ranged between 4.81 and 6.08 years. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

The Fund’s benchmark index is the Bloomberg Barclays U.S. Aggregate Bond Index.
Principal Risks of the Fund
Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.

Credit/Default Risk.  An issuer or guarantor of fixed income securities or instruments held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant deterioration in net asset value (“NAV”). These risks are more pronounced in connection with the Fund’s investments in non-investment grade fixed income securities.

Derivatives Risk.  The Fund’s use of forwards, interest rate futures, interest rate swaps, credit default swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund’s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund’s ability to invest in derivatives and other instruments and adversely affect the Fund’s performance and ability to pursue its investment objectives.

Foreign and Emerging Countries Risk.  Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls (including repatriation restrictions), sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. These risks may be more pronounced in connection with the Fund’s investments in securities of issuers located in emerging countries.

Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rate are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the yield and liquidity of fixed income securities and instruments held by the Fund.

Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.

Mortgage-Backed and Other Asset-Backed Securities Risk.  Mortgage-related and other asset-backed securities are subject to certain additional risks, including “extension risk” (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and “prepayment risk” (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Mortgage-backed securities offered by non-governmental issuers are subject to other risks as well, including failures of private insurers to meet their obligations and unexpectedly high rates of default on the mortgages backing the securities. Other asset-backed securities are subject to risks similar to those associated with mortgage-backed securities, as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.

Non-Investment Grade Fixed Income Securities Risk.  Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as “junk bonds”) are considered speculative and are subject to the increased risk of an issuer’s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity.

U.S. Government Securities Risk.  The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by the Federal National Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including their legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future.
Performance
The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart
The total return for Class A Shares for the six-month period ended
June 30, 2017 was 2.49%.

Best Quarter
Q3 ‘09              +5.88%

Worst Quarter
Q3 ‘08              –3.49%
AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Average Annual Total Returns - Goldman Sachs Bond Fund
1 Year
5 Years
10 Years
Since Inception
Inception Date
Class A Shares (1.31%) 2.58% 4.07% 4.00% Nov. 30, 2006
Class A Shares | Returns After Taxes on Distributions (2.36%) 1.19% 2.52% 2.45% Nov. 30, 2006
Class A Shares | Returns After Taxes on Distributions and Sale of Fund Shares (0.74%) 1.43% 2.57% 2.50% Nov. 30, 2006
Class A Shares | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) 2.64% 2.23% 4.34% 4.24% Nov. 30, 2006
Class C Shares 0.71% 2.60% 3.69% 3.61% Nov. 30, 2006
Class C Shares | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) 2.64% 2.23% 4.34% 4.24% Nov. 30, 2006
Institutional Shares 2.93% 3.74% 4.84% 4.75% Nov. 30, 2006
Institutional Shares | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) 2.64% 2.23% 4.34% 4.24% Nov. 30, 2006
Service Shares 2.43% 3.23% 4.50% Jun. 20, 2007
Service Shares | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) 2.64% 2.23% 4.50% Jun. 20, 2007
Investor Shares 2.84% 3.63% 4.48% Nov. 30, 2007
Investor Shares | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) 2.64% 2.23% 4.05% Nov. 30, 2007
Class R Shares 2.33% 3.11% 3.99% Nov. 30, 2007
Class R Shares | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) 2.64% 2.23% 4.05% Nov. 30, 2007
Class R6 Shares [1] 2.94% 3.73% 4.84% 4.75% Jul. 31, 2015
Class R6 Shares | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) [1] 2.64% 2.23% 4.34% 4.24% Jul. 31, 2015
Class T Shares [2] (1.31%) 2.58% 4.07% 4.00% Jul. 28, 2017
Class T Shares | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) [2] 2.64% 2.23% 4.34% 4.24% Jul. 28, 2017
[1] Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of Class R6 Shares shown in the table above is that of Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses.
[2] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 43 R87.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName GOLDMAN SACHS TRUST
Prospectus Date rr_ProspectusDate Jul. 28, 2017
Goldman Sachs Bond Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Goldman Sachs Bond Fund—Summary
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Goldman Sachs Bond Fund (the “Fund”) seeks a total return consisting of capital appreciation and income that exceeds the total return of the Bloomberg Barclays U.S. Aggregate Bond Index (the “Index”).
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 49 and “Shareholder Guide-Common Questions Applicable to the Purchase of Class T Shares” beginning on page 53 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 90 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees
(fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination July 28, 2018
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in the annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 517% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 517.00%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock A contingent deferred sales charge (“CDSC”) of 1% is imposed on Class C Shares redeemed within 12 months of purchase.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 49 and “Shareholder Guide-Common Questions Applicable to the Purchase of Class T Shares” beginning on page 53 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 90 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates the “Other Expenses” for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent The Fund’s “Management Fees” have been restated to reflect current fees.

The “Other Expenses” for Class R6 Shares have been restated
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees The “Total Annual Fund Operating Expenses” do not correlate to the ratios of net and total expenses to average net assets provided in the Financial Highlights, which reflect the operating expenses of the Fund and do not include “Acquired Fund Fees and Expenses.”
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and/or Class T Shares at the end of those periods, unless otherwise stated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the expense limitation arrangement for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption Assuming complete redemption at end of period
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption Assuming no redemption
Strategy [Heading] rr_StrategyHeading Principal Strategy
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in bonds and other fixed income securities, including securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises (“U.S. Government Securities”), corporate debt securities, collateralized loan obligations, privately issued adjustable rate and fixed rate mortgage loans or other mortgage-related securities (“Mortgage-Backed Securities”), asset-backed securities, high yield non-investment grade securities (securities rated BB+, Ba1 or below by a nationally recognized statistical rating organization (“NRSRO”) or, if unrated, determined by the Investment Adviser to be of comparable credit quality). The Fund may also invest in custodial receipts, fixed income securities issued by or on behalf of states, territories, and possessions of the United States (including the District of Columbia) (“Municipal Securities”) and convertible securities. The Fund may also engage in forward foreign currency transactions for both hedging and non-hedging purposes. The Fund also intends to invest in derivatives, including (but not limited to) forwards, interest rate futures, interest rate swaps and credit default swaps, which are used primarily to hedge the Fund’s portfolio risks, manage the Fund’s duration and/or gain exposure to certain fixed income securities or indices. The Fund may invest in obligations of domestic and foreign issuers which are denominated in currencies other than the U.S. dollar. The Fund may invest up to 15% of its total assets measured at the time of purchase (“Total Assets”) in sovereign and corporate debt securities and other instruments of issuers in emerging market countries (“emerging countries debt”). In pursuing its investment objective, the Fund uses the Index as its performance benchmark, but the Fund will not attempt to replicate the Index. The Fund may, therefore, invest in securities that are not included in the Index. The Fund may also purchase securities of issuers in default.

The Fund’s investments in non-investment grade securities (i.e., junk bonds) will not exceed 25% of its Total Assets at the time of purchase. Otherwise, the Fund invests in fixed income securities rated at least BBB– or Baa3 at the time of purchase. Securities will either be rated by an NRSRO or, if unrated, determined by the Investment Adviser to be of comparable credit quality.

The Fund’s target duration range under normal interest rate conditions is expected to approximate that of the Index, plus or minus 2.5 years, and over the last five years ended June 30, 2017, the duration of the Index has ranged between 4.81 and 6.08 years. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

The Fund’s benchmark index is the Bloomberg Barclays U.S. Aggregate Bond Index.
Risk [Heading] rr_RiskHeading Principal Risks of the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.

Credit/Default Risk.  An issuer or guarantor of fixed income securities or instruments held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant deterioration in net asset value (“NAV”). These risks are more pronounced in connection with the Fund’s investments in non-investment grade fixed income securities.

Derivatives Risk.  The Fund’s use of forwards, interest rate futures, interest rate swaps, credit default swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund’s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund’s ability to invest in derivatives and other instruments and adversely affect the Fund’s performance and ability to pursue its investment objectives.

Foreign and Emerging Countries Risk.  Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls (including repatriation restrictions), sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. These risks may be more pronounced in connection with the Fund’s investments in securities of issuers located in emerging countries.

Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rate are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the yield and liquidity of fixed income securities and instruments held by the Fund.

Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.

Mortgage-Backed and Other Asset-Backed Securities Risk.  Mortgage-related and other asset-backed securities are subject to certain additional risks, including “extension risk” (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and “prepayment risk” (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Mortgage-backed securities offered by non-governmental issuers are subject to other risks as well, including failures of private insurers to meet their obligations and unexpectedly high rates of default on the mortgages backing the securities. Other asset-backed securities are subject to risks similar to those associated with mortgage-backed securities, as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.

Non-Investment Grade Fixed Income Securities Risk.  Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as “junk bonds”) are considered speculative and are subject to the increased risk of an issuer’s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity.

U.S. Government Securities Risk.  The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by the Federal National Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including their legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future.
Risk Lose Money [Text] rr_RiskLoseMoney Loss of money is a risk of investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and Class T Shares compare to those of a broad-based securities market index.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess As of the date of the Prospectus, Class T Shares have not commenced operations.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.gsamfunds.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The total return for Class A Shares for the six-month period ended
June 30, 2017 was 2.49%.

Best Quarter
Q3 ‘09              +5.88%

Worst Quarter
Q3 ‘08              –3.49%
Performance Table Heading rr_PerformanceTableHeading AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Performance Table Does Reflect Sales Loads rr_PerformanceTableDoesReflectSalesLoads Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Goldman Sachs Bond Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 3.75%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.41% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.27%
Other Expenses rr_OtherExpensesOverAssets 0.27% [3]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.94% [4]
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.15%) [5]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.79% [4],[6]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 100,000
1 Year rr_ExpenseExampleYear01 453
3 Years rr_ExpenseExampleYear03 649
5 Years rr_ExpenseExampleYear05 862
10 Years rr_ExpenseExampleYear10 $ 1,473
2007 rr_AnnualReturn2007 6.57%
2008 rr_AnnualReturn2008 (4.62%)
2009 rr_AnnualReturn2009 13.79%
2010 rr_AnnualReturn2010 7.57%
2011 rr_AnnualReturn2011 5.57%
2012 rr_AnnualReturn2012 9.28%
2013 rr_AnnualReturn2013 (0.41%)
2014 rr_AnnualReturn2014 5.44%
2015 rr_AnnualReturn2015 0.31%
2016 rr_AnnualReturn2016 2.49%
Year to Date Return, Label rr_YearToDateReturnLabel total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 2.49%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 5.88%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (3.49%)
1 Year rr_AverageAnnualReturnYear01 (1.31%)
5 Years rr_AverageAnnualReturnYear05 2.58%
10 Years rr_AverageAnnualReturnYear10 4.07%
Since Inception rr_AverageAnnualReturnSinceInception 4.00%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2006
Goldman Sachs Bond Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Management Fees rr_ManagementFeesOverAssets 0.41% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.27%
Other Expenses rr_OtherExpensesOverAssets 0.52% [3]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.69% [4]
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.15%) [5]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.54% [4],[6]
1 Year rr_ExpenseExampleYear01 $ 257
3 Years rr_ExpenseExampleYear03 518
5 Years rr_ExpenseExampleYear05 904
10 Years rr_ExpenseExampleYear10 1,985
1 Year rr_ExpenseExampleNoRedemptionYear01 157
3 Years rr_ExpenseExampleNoRedemptionYear03 518
5 Years rr_ExpenseExampleNoRedemptionYear05 904
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,985
1 Year rr_AverageAnnualReturnYear01 0.71%
5 Years rr_AverageAnnualReturnYear05 2.60%
10 Years rr_AverageAnnualReturnYear10 3.69%
Since Inception rr_AverageAnnualReturnSinceInception 3.61%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2006
Goldman Sachs Bond Fund | Institutional  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.41% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.18%
Other Expenses rr_OtherExpensesOverAssets 0.18% [3]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.60% [4]
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.15%) [5]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.45% [4],[6]
1 Year rr_ExpenseExampleYear01 $ 46
3 Years rr_ExpenseExampleYear03 177
5 Years rr_ExpenseExampleYear05 320
10 Years rr_ExpenseExampleYear10 $ 736
1 Year rr_AverageAnnualReturnYear01 2.93%
5 Years rr_AverageAnnualReturnYear05 3.74%
10 Years rr_AverageAnnualReturnYear10 4.84%
Since Inception rr_AverageAnnualReturnSinceInception 4.75%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2006
Goldman Sachs Bond Fund | Service  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.41% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets 0.25%
All Other Expenses rr_Component3OtherExpensesOverAssets 0.18%
Other Expenses rr_OtherExpensesOverAssets 0.43% [3]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.10% [4]
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.15%) [5]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.95% [4],[6]
1 Year rr_ExpenseExampleYear01 $ 97
3 Years rr_ExpenseExampleYear03 335
5 Years rr_ExpenseExampleYear05 592
10 Years rr_ExpenseExampleYear10 $ 1,327
1 Year rr_AverageAnnualReturnYear01 2.43%
5 Years rr_AverageAnnualReturnYear05 3.23%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 4.50%
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 20, 2007
Goldman Sachs Bond Fund | Investor  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.41% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.27%
Other Expenses rr_OtherExpensesOverAssets 0.27% [3]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.69% [4]
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.15%) [5]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.54% [4],[6]
1 Year rr_ExpenseExampleYear01 $ 55
3 Years rr_ExpenseExampleYear03 206
5 Years rr_ExpenseExampleYear05 369
10 Years rr_ExpenseExampleYear10 $ 844
1 Year rr_AverageAnnualReturnYear01 2.84%
5 Years rr_AverageAnnualReturnYear05 3.63%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 4.48%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2007
Goldman Sachs Bond Fund | Class R  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.41% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.27%
Other Expenses rr_OtherExpensesOverAssets 0.27% [3]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.19% [4]
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.15%) [5]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.04% [4],[6]
1 Year rr_ExpenseExampleYear01 $ 106
3 Years rr_ExpenseExampleYear03 363
5 Years rr_ExpenseExampleYear05 640
10 Years rr_ExpenseExampleYear10 $ 1,430
1 Year rr_AverageAnnualReturnYear01 2.33%
5 Years rr_AverageAnnualReturnYear05 3.11%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 3.99%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2007
Goldman Sachs Bond Fund | Class R6  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.41% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.16%
Other Expenses rr_OtherExpensesOverAssets 0.16% [3]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.58% [4]
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.14%) [5]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.44% [4],[6]
1 Year rr_ExpenseExampleYear01 $ 45
3 Years rr_ExpenseExampleYear03 172
5 Years rr_ExpenseExampleYear05 310
10 Years rr_ExpenseExampleYear10 $ 712
1 Year rr_AverageAnnualReturnYear01 2.94% [7]
5 Years rr_AverageAnnualReturnYear05 3.73% [7]
10 Years rr_AverageAnnualReturnYear10 4.84% [7]
Since Inception rr_AverageAnnualReturnSinceInception 4.75% [7]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [7]
Goldman Sachs Bond Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.41% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.27%
Other Expenses rr_OtherExpensesOverAssets 0.27% [3]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.94% [4]
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.15%) [5]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.79% [4],[6]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
1 Year rr_ExpenseExampleYear01 329
3 Years rr_ExpenseExampleYear03 528
5 Years rr_ExpenseExampleYear05 743
10 Years rr_ExpenseExampleYear10 $ 1,362
1 Year rr_AverageAnnualReturnYear01 (1.31%) [8]
5 Years rr_AverageAnnualReturnYear05 2.58% [8]
10 Years rr_AverageAnnualReturnYear10 4.07% [8]
Since Inception rr_AverageAnnualReturnSinceInception 4.00% [8]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [8]
Goldman Sachs Bond Fund | Returns After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (2.36%)
5 Years rr_AverageAnnualReturnYear05 1.19%
10 Years rr_AverageAnnualReturnYear10 2.52%
Since Inception rr_AverageAnnualReturnSinceInception 2.45%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2006
Goldman Sachs Bond Fund | Returns After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (0.74%)
5 Years rr_AverageAnnualReturnYear05 1.43%
10 Years rr_AverageAnnualReturnYear10 2.57%
Since Inception rr_AverageAnnualReturnSinceInception 2.50%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2006
Goldman Sachs Bond Fund | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.64%
5 Years rr_AverageAnnualReturnYear05 2.23%
10 Years rr_AverageAnnualReturnYear10 4.34%
Since Inception rr_AverageAnnualReturnSinceInception 4.24%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2006
Goldman Sachs Bond Fund | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) | Class C  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.64%
5 Years rr_AverageAnnualReturnYear05 2.23%
10 Years rr_AverageAnnualReturnYear10 4.34%
Since Inception rr_AverageAnnualReturnSinceInception 4.24%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2006
Goldman Sachs Bond Fund | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) | Institutional  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.64%
5 Years rr_AverageAnnualReturnYear05 2.23%
10 Years rr_AverageAnnualReturnYear10 4.34%
Since Inception rr_AverageAnnualReturnSinceInception 4.24%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2006
Goldman Sachs Bond Fund | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) | Service  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.64%
5 Years rr_AverageAnnualReturnYear05 2.23%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 4.50%
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 20, 2007
Goldman Sachs Bond Fund | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) | Investor  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.64%
5 Years rr_AverageAnnualReturnYear05 2.23%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 4.05%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2007
Goldman Sachs Bond Fund | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) | Class R  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.64%
5 Years rr_AverageAnnualReturnYear05 2.23%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 4.05%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2007
Goldman Sachs Bond Fund | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) | Class R6  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.64% [7]
5 Years rr_AverageAnnualReturnYear05 2.23% [7]
10 Years rr_AverageAnnualReturnYear10 4.34% [7]
Since Inception rr_AverageAnnualReturnSinceInception 4.24% [7]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [7]
Goldman Sachs Bond Fund | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) | Class T  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.64% [8]
5 Years rr_AverageAnnualReturnYear05 2.23% [8]
10 Years rr_AverageAnnualReturnYear10 4.34% [8]
Since Inception rr_AverageAnnualReturnSinceInception 4.24% [8]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [8]
[1] A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase.
[2] The Fund's "Management Fees" have been restated to reflect current fees.
[3] The "Other Expenses" for Class R6 Shares have been restated and the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[4] The "Total Annual Fund Operating Expenses" do not correlate to the ratios of net and total expenses to average net assets provided in the Financial Highlights, which reflect the operating expenses of the Fund and do not include "Acquired Fund Fees and Expenses."
[5] The Investment Adviser has agreed to reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, shareholder administration fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.004% of the Fund's average daily net assets. This arrangement will remain in effect through at least July 28, 2018 and prior to such date the Investment Adviser may not terminate the arrangements without the approval of the Board of Trustees. GSAM has agreed to waive a portion of its management fee payable by the Fund in an amount equal to any management fees it earns as an investment adviser to any of the affiliated funds in which the Fund invests through at least July 28, 2018. Prior to such date, GSAM may not terminate the arrangement without the approval of the Trustees.
[6] After Expense Limitation
[7] Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of Class R6 Shares shown in the table above is that of Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses.
[8] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
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Goldman Sachs Core Fixed Income Fund
Goldman Sachs Core Fixed Income Fund—Summary
Investment Objective
The Goldman Sachs Core Fixed Income Fund (the “Fund”) seeks a total return consisting of capital appreciation and income that exceeds the total return of the Bloomberg Barclays U.S. Aggregate Bond Index (the “Index”).
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 49 and “Shareholder Guide-Common Questions Applicable to the Purchase of Class T Shares” beginning on page 53 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 90 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees
(fees paid directly from your investment)
Shareholder Fees - Goldman Sachs Core Fixed Income Fund
Class A
Class C
Institutional
Service
Investor
Class R
Class R6
Class T
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 3.75% none none none none none none 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) [1] none 1.00% none none none none none none
[1] A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase.
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses - Goldman Sachs Core Fixed Income Fund
Class A
Class C
Institutional
Service
Investor
Class R
Class R6
Class T
Management Fees 0.40% 0.40% 0.40% 0.40% 0.40% 0.40% 0.40% 0.40%
Distribution and/or Service (12b-1) Fees 0.25% 0.75% none 0.25% none 0.50% none 0.25%
Other Expenses [1] 0.19% 0.44% 0.10% 0.35% 0.19% 0.20% 0.09% 0.20%
Service Fees none 0.25% none none none none none none
Shareholder Administration Fees none none none 0.25% none none none none
All Other Expenses 0.19% 0.19% 0.10% 0.10% 0.19% 0.20% 0.09% 0.20%
Acquired Fund Fees and Expenses 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
Total Annual Fund Operating Expenses 0.85% 1.60% 0.51% 1.01% 0.60% 1.11% 0.50% 0.86%
Expense Limitation [2] (0.05%) (0.05%) (0.06%) (0.06%) (0.06%) (0.07%) (0.06%) (0.06%)
Total Annual Fund Operating Expenses [3] 0.80% 1.55% 0.45% 0.95% 0.54% 1.04% 0.44% 0.80%
[1] The "Other Expenses" for Class R6 Shares have been restated and the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[2] The Investment Adviser has agreed to reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, shareholder administration fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.014% of the Fund's average daily net assets through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees. GSAM has agreed to waive a portion of its management fee payable by the Fund in an amount equal to any management fees it earns as an investment adviser to any of the affiliated funds in which the Fund invests through at least July 28, 2018. Prior to such date, GSAM may not terminate the arrangement without the approval of the Trustees.
[3] After Expense Limitation
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and/or Class T Shares at the end of those periods, unless otherwise stated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the expense limitation arrangement for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Assuming complete redemption at end of period
Expense Example - Goldman Sachs Core Fixed Income Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A Shares 454 631 824 1,380
Class C Shares 258 500 866 1,896
Institutional Shares 46 158 279 635
Service Shares 97 316 552 1,231
Investor Shares 55 186 329 744
Class R Shares 106 346 605 1,345
Class R6 Shares 45 154 274 622
Class T Shares 330 512 709 1,279
Assuming no redemption
Expense Example, No Redemption
1 Year
3 Years
5 Years
10 Years
Goldman Sachs Core Fixed Income Fund | Class C Shares | USD ($) 158 500 866 1,896
Portfolio Turnover
The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in the annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 363% of the average value of its portfolio.
Principal Strategy
The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in fixed income securities, including securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises (“U.S. Government Securities”), corporate debt securities, privately issued adjustable rate and fixed rate mortgage loans or other mortgage-related securities (“Mortgage-Backed Securities”) and asset-backed securities. The Fund may also invest in custodial receipts, fixed income securities issued by or on behalf of states, territories, and possessions of the United States (including the District of Columbia) (“Municipal Securities”) and convertible securities.

The Fund may also engage in forward foreign currency transactions for both hedging and non-hedging purposes. The Fund also intends to invest in derivatives, including (but not limited to) interest rate futures, interest rate swaps and credit default swaps, which are used primarily to hedge the Fund’s portfolio risks, manage the Fund’s duration and/or gain exposure to certain fixed income securities or indices.

The Fund’s investments in non-U.S. dollar denominated obligations (hedged or unhedged against currency risk) will not exceed 25% of its total assets measured at the time of purchase (“Total Assets”), and 10% of the Fund’s Total Assets may be invested in sovereign and corporate debt securities and other instruments of issuers in emerging market countries (“emerging countries debt”). Additionally, exposure to non-U.S. currencies (unhedged against currency risk) will not exceed 25% of the Fund’s Total Assets. In pursuing its investment objective, the Fund uses the Index as its performance benchmark, but the Fund will not attempt to replicate the Index. The Fund may, therefore, invest in securities that are not included in the Index.

The Fund may invest in fixed income securities rated at least BBB– or Baa3 at the time of purchase. Securities will either be rated by a nationally recognized statistical rating organization (“NRSRO”) or, if unrated, determined by the Investment Adviser to be of comparable credit quality.

The Fund’s target duration range under normal interest rate conditions is expected to approximate that of the Index plus or minus one year, and over the last five years ended June 30, 2017, the duration of the Index has ranged between 4.81 and 6.08 years. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

“Core” in the Fund’s name means that the Fund focuses its investments in intermediate and long-term investment grade bonds.

The Fund’s benchmark index is the Bloomberg Barclays U.S. Aggregate Bond Index.
Principal Risks of the Fund
Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.

Credit/Default Risk.  An issuer or guarantor of fixed income securities or instruments held by the Fund may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant deterioration in net asset value (“NAV”).

Derivatives Risk.  The Fund’s use of forwards, interest rate futures, interest rate swaps, credit default swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund’s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund’s ability to invest in derivatives and other instruments and adversely affect the Fund’s performance and ability to pursue its investment objectives.

Foreign and Emerging Countries Risk.  Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls (including repatriation restrictions), sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. These risks may be more pronounced in connection with the Fund’s investments in securities of issuers located in emerging countries.

Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rate are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the yield and liquidity of fixed income securities and instruments held by the Fund.

Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.

Mortgage-Backed and Other Asset-Backed Securities Risk.  Mortgage-related and other asset-backed securities are subject to certain additional risks, including “extension risk” (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and “prepayment risk” (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Mortgage-backed securities offered by non-governmental issuers are subject to other risks as well, including failures of private insurers to meet their obligations and unexpectedly high rates of default on the mortgages backing the securities. Other asset-backed securities are subject to risks similar to those associated with mortgage-backed securities, as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.

U.S. Government Securities Risk.  The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by the Federal National Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including their legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future.
Performance
The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart
The total return for Class A Shares for the six-month period ended
June 30, 2017 was 2.18%.

Best Quarter
Q3 ‘09              +8.52%

Worst Quarter
Q3 ‘08              –4.12%
AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Average Annual Total Returns - Goldman Sachs Core Fixed Income Fund
1 Year
5 Years
10 Years
Since Inception
Inception Date
Class A Shares (1.21%) 1.64% 3.18% 4.55% May 01, 1997
Class A Shares | Returns After Taxes on Distributions (2.14%) 0.70% 2.04% 2.90% May 01, 1997
Class A Shares | Returns After Taxes on Distributions and Sale of Fund Shares (0.68%) 0.84% 1.99% 2.86% May 01, 1997
Class A Shares | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) 2.64% 2.23% 4.34% 5.32% May 01, 1997
Class C Shares 0.82% 1.65% 2.80% 3.84% Aug. 15, 1997
Class C Shares | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) 2.64% 2.23% 4.34% 5.20% Aug. 15, 1997
Institutional Shares 2.95% 2.76% 3.92% 5.25% Jan. 05, 1994
Institutional Shares | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) 2.64% 2.23% 4.34% 5.38% Jan. 05, 1994
Service Shares 2.44% 2.25% 3.42% 4.68% Mar. 13, 1996
Service Shares | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) 2.64% 2.23% 4.34% 5.36% Mar. 13, 1996
Investor Shares 2.85% 2.67% 3.52% Nov. 30, 2007
Investor Shares | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) 2.64% 2.23% 4.05% Nov. 30, 2007
Class R Shares 2.35% 2.16% 3.01% Nov. 30, 2007
Class R Shares | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) 2.64% 2.23% 4.05% Nov. 30, 2007
Class R6 Shares [1] 2.96% 2.76% 3.92% 5.25% Jul. 31, 2015
Class R6 Shares | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) [1] 2.64% 2.23% 4.34% 5.38% Jul. 31, 2015
Class T Shares [2] (1.21%) 1.64% 3.18% 4.55% Jul. 28, 2017
Class T Shares | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) [2] 2.64% 2.23% 4.34% 5.32% Jul. 28, 2017
[1] Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of Class R6 Shares shown in the table above is that of Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses.
[2] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 46 R95.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName GOLDMAN SACHS TRUST
Prospectus Date rr_ProspectusDate Jul. 28, 2017
Goldman Sachs Core Fixed Income Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Goldman Sachs Core Fixed Income Fund—Summary
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Goldman Sachs Core Fixed Income Fund (the “Fund”) seeks a total return consisting of capital appreciation and income that exceeds the total return of the Bloomberg Barclays U.S. Aggregate Bond Index (the “Index”).
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 49 and “Shareholder Guide-Common Questions Applicable to the Purchase of Class T Shares” beginning on page 53 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 90 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees
(fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination July 28, 2018
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in the annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 363% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 363.00%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock A contingent deferred sales charge (“CDSC”) of 1% is imposed on Class C Shares redeemed within 12 months of purchase.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 49 and “Shareholder Guide-Common Questions Applicable to the Purchase of Class T Shares” beginning on page 53 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 90 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates the “Other Expenses” for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent The “Other Expenses” for Class R6 Shares have been restated
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and/or Class T Shares at the end of those periods, unless otherwise stated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the expense limitation arrangement for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption Assuming complete redemption at end of period
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption Assuming no redemption
Strategy [Heading] rr_StrategyHeading Principal Strategy
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in fixed income securities, including securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises (“U.S. Government Securities”), corporate debt securities, privately issued adjustable rate and fixed rate mortgage loans or other mortgage-related securities (“Mortgage-Backed Securities”) and asset-backed securities. The Fund may also invest in custodial receipts, fixed income securities issued by or on behalf of states, territories, and possessions of the United States (including the District of Columbia) (“Municipal Securities”) and convertible securities.

The Fund may also engage in forward foreign currency transactions for both hedging and non-hedging purposes. The Fund also intends to invest in derivatives, including (but not limited to) interest rate futures, interest rate swaps and credit default swaps, which are used primarily to hedge the Fund’s portfolio risks, manage the Fund’s duration and/or gain exposure to certain fixed income securities or indices.

The Fund’s investments in non-U.S. dollar denominated obligations (hedged or unhedged against currency risk) will not exceed 25% of its total assets measured at the time of purchase (“Total Assets”), and 10% of the Fund’s Total Assets may be invested in sovereign and corporate debt securities and other instruments of issuers in emerging market countries (“emerging countries debt”). Additionally, exposure to non-U.S. currencies (unhedged against currency risk) will not exceed 25% of the Fund’s Total Assets. In pursuing its investment objective, the Fund uses the Index as its performance benchmark, but the Fund will not attempt to replicate the Index. The Fund may, therefore, invest in securities that are not included in the Index.

The Fund may invest in fixed income securities rated at least BBB– or Baa3 at the time of purchase. Securities will either be rated by a nationally recognized statistical rating organization (“NRSRO”) or, if unrated, determined by the Investment Adviser to be of comparable credit quality.

The Fund’s target duration range under normal interest rate conditions is expected to approximate that of the Index plus or minus one year, and over the last five years ended June 30, 2017, the duration of the Index has ranged between 4.81 and 6.08 years. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

“Core” in the Fund’s name means that the Fund focuses its investments in intermediate and long-term investment grade bonds.

The Fund’s benchmark index is the Bloomberg Barclays U.S. Aggregate Bond Index.
Risk [Heading] rr_RiskHeading Principal Risks of the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.

Credit/Default Risk.  An issuer or guarantor of fixed income securities or instruments held by the Fund may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant deterioration in net asset value (“NAV”).

Derivatives Risk.  The Fund’s use of forwards, interest rate futures, interest rate swaps, credit default swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund’s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund’s ability to invest in derivatives and other instruments and adversely affect the Fund’s performance and ability to pursue its investment objectives.

Foreign and Emerging Countries Risk.  Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls (including repatriation restrictions), sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. These risks may be more pronounced in connection with the Fund’s investments in securities of issuers located in emerging countries.

Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rate are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the yield and liquidity of fixed income securities and instruments held by the Fund.

Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.

Mortgage-Backed and Other Asset-Backed Securities Risk.  Mortgage-related and other asset-backed securities are subject to certain additional risks, including “extension risk” (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and “prepayment risk” (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Mortgage-backed securities offered by non-governmental issuers are subject to other risks as well, including failures of private insurers to meet their obligations and unexpectedly high rates of default on the mortgages backing the securities. Other asset-backed securities are subject to risks similar to those associated with mortgage-backed securities, as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.

U.S. Government Securities Risk.  The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by the Federal National Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including their legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future.
Risk Lose Money [Text] rr_RiskLoseMoney Loss of money is a risk of investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and Class T Shares compare to those of a broad-based securities market index.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess As of the date of the Prospectus, Class T Shares have not commenced operations.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.gsamfunds.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The total return for Class A Shares for the six-month period ended
June 30, 2017 was 2.18%.

Best Quarter
Q3 ‘09              +8.52%

Worst Quarter
Q3 ‘08              –4.12%
Performance Table Heading rr_PerformanceTableHeading AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Performance Table Does Reflect Sales Loads rr_PerformanceTableDoesReflectSalesLoads Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Goldman Sachs Core Fixed Income Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 3.75%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.40%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.19%
Other Expenses rr_OtherExpensesOverAssets 0.19% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.85%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.05%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.80% [4]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 100,000
1 Year rr_ExpenseExampleYear01 454
3 Years rr_ExpenseExampleYear03 631
5 Years rr_ExpenseExampleYear05 824
10 Years rr_ExpenseExampleYear10 $ 1,380
2007 rr_AnnualReturn2007 6.30%
2008 rr_AnnualReturn2008 (10.92%)
2009 rr_AnnualReturn2009 15.95%
2010 rr_AnnualReturn2010 7.31%
2011 rr_AnnualReturn2011 7.06%
2012 rr_AnnualReturn2012 5.89%
2013 rr_AnnualReturn2013 (1.72%)
2014 rr_AnnualReturn2014 5.28%
2015 rr_AnnualReturn2015 0.22%
2016 rr_AnnualReturn2016 2.59%
Year to Date Return, Label rr_YearToDateReturnLabel total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 2.18%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 8.52%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (4.12%)
1 Year rr_AverageAnnualReturnYear01 (1.21%)
5 Years rr_AverageAnnualReturnYear05 1.64%
10 Years rr_AverageAnnualReturnYear10 3.18%
Since Inception rr_AverageAnnualReturnSinceInception 4.55%
Inception Date rr_AverageAnnualReturnInceptionDate May 01, 1997
Goldman Sachs Core Fixed Income Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Management Fees rr_ManagementFeesOverAssets 0.40%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.19%
Other Expenses rr_OtherExpensesOverAssets 0.44% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.60%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.05%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.55% [4]
1 Year rr_ExpenseExampleYear01 $ 258
3 Years rr_ExpenseExampleYear03 500
5 Years rr_ExpenseExampleYear05 866
10 Years rr_ExpenseExampleYear10 1,896
1 Year rr_ExpenseExampleNoRedemptionYear01 158
3 Years rr_ExpenseExampleNoRedemptionYear03 500
5 Years rr_ExpenseExampleNoRedemptionYear05 866
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,896
1 Year rr_AverageAnnualReturnYear01 0.82%
5 Years rr_AverageAnnualReturnYear05 1.65%
10 Years rr_AverageAnnualReturnYear10 2.80%
Since Inception rr_AverageAnnualReturnSinceInception 3.84%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 15, 1997
Goldman Sachs Core Fixed Income Fund | Institutional  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.40%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.10%
Other Expenses rr_OtherExpensesOverAssets 0.10% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.51%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.06%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.45% [4]
1 Year rr_ExpenseExampleYear01 $ 46
3 Years rr_ExpenseExampleYear03 158
5 Years rr_ExpenseExampleYear05 279
10 Years rr_ExpenseExampleYear10 $ 635
1 Year rr_AverageAnnualReturnYear01 2.95%
5 Years rr_AverageAnnualReturnYear05 2.76%
10 Years rr_AverageAnnualReturnYear10 3.92%
Since Inception rr_AverageAnnualReturnSinceInception 5.25%
Inception Date rr_AverageAnnualReturnInceptionDate Jan. 05, 1994
Goldman Sachs Core Fixed Income Fund | Service  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.40%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets 0.25%
All Other Expenses rr_Component3OtherExpensesOverAssets 0.10%
Other Expenses rr_OtherExpensesOverAssets 0.35% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.01%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.06%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.95% [4]
1 Year rr_ExpenseExampleYear01 $ 97
3 Years rr_ExpenseExampleYear03 316
5 Years rr_ExpenseExampleYear05 552
10 Years rr_ExpenseExampleYear10 $ 1,231
1 Year rr_AverageAnnualReturnYear01 2.44%
5 Years rr_AverageAnnualReturnYear05 2.25%
10 Years rr_AverageAnnualReturnYear10 3.42%
Since Inception rr_AverageAnnualReturnSinceInception 4.68%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 13, 1996
Goldman Sachs Core Fixed Income Fund | Investor  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.40%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.19%
Other Expenses rr_OtherExpensesOverAssets 0.19% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.60%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.06%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.54% [4]
1 Year rr_ExpenseExampleYear01 $ 55
3 Years rr_ExpenseExampleYear03 186
5 Years rr_ExpenseExampleYear05 329
10 Years rr_ExpenseExampleYear10 $ 744
1 Year rr_AverageAnnualReturnYear01 2.85%
5 Years rr_AverageAnnualReturnYear05 2.67%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 3.52%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2007
Goldman Sachs Core Fixed Income Fund | Class R  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.40%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.20%
Other Expenses rr_OtherExpensesOverAssets 0.20% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.11%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.07%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.04% [4]
1 Year rr_ExpenseExampleYear01 $ 106
3 Years rr_ExpenseExampleYear03 346
5 Years rr_ExpenseExampleYear05 605
10 Years rr_ExpenseExampleYear10 $ 1,345
1 Year rr_AverageAnnualReturnYear01 2.35%
5 Years rr_AverageAnnualReturnYear05 2.16%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 3.01%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2007
Goldman Sachs Core Fixed Income Fund | Class R6  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.40%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.09%
Other Expenses rr_OtherExpensesOverAssets 0.09% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.50%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.06%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.44% [4]
1 Year rr_ExpenseExampleYear01 $ 45
3 Years rr_ExpenseExampleYear03 154
5 Years rr_ExpenseExampleYear05 274
10 Years rr_ExpenseExampleYear10 $ 622
1 Year rr_AverageAnnualReturnYear01 2.96% [5]
5 Years rr_AverageAnnualReturnYear05 2.76% [5]
10 Years rr_AverageAnnualReturnYear10 3.92% [5]
Since Inception rr_AverageAnnualReturnSinceInception 5.25% [5]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [5]
Goldman Sachs Core Fixed Income Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.40%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.20%
Other Expenses rr_OtherExpensesOverAssets 0.20% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.86%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.06%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.80% [4]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
1 Year rr_ExpenseExampleYear01 330
3 Years rr_ExpenseExampleYear03 512
5 Years rr_ExpenseExampleYear05 709
10 Years rr_ExpenseExampleYear10 $ 1,279
1 Year rr_AverageAnnualReturnYear01 (1.21%) [6]
5 Years rr_AverageAnnualReturnYear05 1.64% [6]
10 Years rr_AverageAnnualReturnYear10 3.18% [6]
Since Inception rr_AverageAnnualReturnSinceInception 4.55% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [6]
Goldman Sachs Core Fixed Income Fund | Returns After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (2.14%)
5 Years rr_AverageAnnualReturnYear05 0.70%
10 Years rr_AverageAnnualReturnYear10 2.04%
Since Inception rr_AverageAnnualReturnSinceInception 2.90%
Inception Date rr_AverageAnnualReturnInceptionDate May 01, 1997
Goldman Sachs Core Fixed Income Fund | Returns After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (0.68%)
5 Years rr_AverageAnnualReturnYear05 0.84%
10 Years rr_AverageAnnualReturnYear10 1.99%
Since Inception rr_AverageAnnualReturnSinceInception 2.86%
Inception Date rr_AverageAnnualReturnInceptionDate May 01, 1997
Goldman Sachs Core Fixed Income Fund | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.64%
5 Years rr_AverageAnnualReturnYear05 2.23%
10 Years rr_AverageAnnualReturnYear10 4.34%
Since Inception rr_AverageAnnualReturnSinceInception 5.32%
Inception Date rr_AverageAnnualReturnInceptionDate May 01, 1997
Goldman Sachs Core Fixed Income Fund | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) | Class C  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.64%
5 Years rr_AverageAnnualReturnYear05 2.23%
10 Years rr_AverageAnnualReturnYear10 4.34%
Since Inception rr_AverageAnnualReturnSinceInception 5.20%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 15, 1997
Goldman Sachs Core Fixed Income Fund | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) | Institutional  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.64%
5 Years rr_AverageAnnualReturnYear05 2.23%
10 Years rr_AverageAnnualReturnYear10 4.34%
Since Inception rr_AverageAnnualReturnSinceInception 5.38%
Inception Date rr_AverageAnnualReturnInceptionDate Jan. 05, 1994
Goldman Sachs Core Fixed Income Fund | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) | Service  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.64%
5 Years rr_AverageAnnualReturnYear05 2.23%
10 Years rr_AverageAnnualReturnYear10 4.34%
Since Inception rr_AverageAnnualReturnSinceInception 5.36%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 13, 1996
Goldman Sachs Core Fixed Income Fund | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) | Investor  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.64%
5 Years rr_AverageAnnualReturnYear05 2.23%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 4.05%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2007
Goldman Sachs Core Fixed Income Fund | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) | Class R  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.64%
5 Years rr_AverageAnnualReturnYear05 2.23%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 4.05%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2007
Goldman Sachs Core Fixed Income Fund | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) | Class R6  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.64% [5]
5 Years rr_AverageAnnualReturnYear05 2.23% [5]
10 Years rr_AverageAnnualReturnYear10 4.34% [5]
Since Inception rr_AverageAnnualReturnSinceInception 5.38% [5]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [5]
Goldman Sachs Core Fixed Income Fund | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees or expenses) | Class T  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.64% [6]
5 Years rr_AverageAnnualReturnYear05 2.23% [6]
10 Years rr_AverageAnnualReturnYear10 4.34% [6]
Since Inception rr_AverageAnnualReturnSinceInception 5.32% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [6]
[1] A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase.
[2] The "Other Expenses" for Class R6 Shares have been restated and the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[3] The Investment Adviser has agreed to reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, shareholder administration fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.014% of the Fund's average daily net assets through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees. GSAM has agreed to waive a portion of its management fee payable by the Fund in an amount equal to any management fees it earns as an investment adviser to any of the affiliated funds in which the Fund invests through at least July 28, 2018. Prior to such date, GSAM may not terminate the arrangement without the approval of the Trustees.
[4] After Expense Limitation
[5] Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of Class R6 Shares shown in the table above is that of Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses.
[6] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
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Goldman Sachs Global Income Fund
Goldman Sachs Global Income Fund—Summary
Investment Objective
The Goldman Sachs Global Income Fund (the “Fund”) seeks a high total return, emphasizing current income, and, to a lesser extent, providing opportunities for capital appreciation.
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 49 and “Shareholder Guide-Common Questions Applicable to the Purchase of Class T Shares” beginning on page 53 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 90 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees
(fees paid directly from your investment)
Shareholder Fees - Goldman Sachs Global Income Fund
Class A
Class C
Institutional
Service
Investor
Class R6
Class T
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 3.75% none none none none none 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) [1] none 1.00% none none none none none
[1] A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase.
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses - Goldman Sachs Global Income Fund
Class A
Class C
Institutional
Service
Investor
Class R6
Class T
Management Fees 0.65% 0.65% 0.65% 0.65% 0.65% 0.65% 0.65%
Distribution and/or Service (12b-1) Fees 0.25% 0.75% none 0.25% none none 0.25%
Other Expenses [1] 0.23% 0.48% 0.14% 0.39% 0.23% 0.12% 0.23%
Service Fees none 0.25% none none none none none
Shareholder Administration Fees none none none 0.25% none none none
All Other Expenses 0.23% 0.23% 0.14% 0.14% 0.23% 0.12% 0.23%
Total Annual Fund Operating Expenses 1.13% 1.88% 0.79% 1.29% 0.88% 0.77% 1.13%
Expense Limitation [2] (0.10%) (0.09%) (0.10%) (0.10%) (0.10%) (0.09%) (0.10%)
Total Annual Fund Operating Expenses [3] 1.03% 1.79% 0.69% 1.19% 0.78% 0.68% 1.03%
[1] The "Other Expenses" for Class R6 Shares have been restated and the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[2] The Investment Adviser has agreed to reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, shareholder administration fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.004% of the Fund's average daily net assets through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees.
[3] After Expense Limitation
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Service, Investor, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Service, Investor, Class R6 and/or Class T Shares at the end of those periods, unless otherwise stated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the expense limitation arrangement for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Assuming complete redemption at end of period
Expense Example - Goldman Sachs Global Income Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A Shares 476 711 965 1,689
Class C Shares 282 582 1,008 2,194
Institutional Shares 70 242 429 969
Service Shares 121 399 698 1,548
Investor Shares 80 271 478 1,075
Class R6 Shares 69 237 419 946
Class T Shares 352 590 847 1,582
Assuming no redemption
Expense Example, No Redemption
1 Year
3 Years
5 Years
10 Years
Goldman Sachs Global Income Fund | Class C Shares | USD ($) 182 582 1,008 2,194
Portfolio Turnover
The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in the annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 289% of the average value of its portfolio.
Principal Strategy
The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in a portfolio of fixed income securities of U.S. and foreign issuers. Foreign securities include securities of issuers located outside the U.S. or securities quoted or denominated in a currency other than the U.S. dollar. The Fund also enters into transactions in foreign currencies, typically through the use of forward contracts and swap contracts. The Fund may also engage in forward foreign currency transactions for both hedging and non-hedging purposes. The Fund also intends to invest in derivatives, including (but not limited to) forwards, interest rate futures, interest rate swaps and credit default swaps, which are used primarily to hedge the Fund’s portfolio risks, manage the Fund’s duration and/or gain exposure to certain fixed income securities or indices. Under normal market conditions, the Fund will:
  • Have at least 30% of its Net Assets, after considering the effect of currency positions, denominated in U.S. dollars
  • Invest in securities of issuers in at least three countries
  • Seek to meet its investment objective by pursuing investment opportunities in foreign and domestic fixed income securities markets and by engaging in currency transactions to seek to enhance returns and to seek to hedge its portfolio against currency exchange rate fluctuations
The Fund may invest more than 25% of its total assets in the securities of corporate and governmental issuers located in each of Canada, Germany, Japan and the United Kingdom as well as in the securities of U.S. issuers. Not more than 25% of the Fund’s total assets will be invested in securities of issuers in any other single foreign country. The Fund may also invest up to 10% of its total assets measured at the time of purchase (“Total Assets”) in sovereign and corporate debt securities and other instruments of issuers in emerging market countries (“emerging countries debt”).

The fixed income securities in which the Fund may invest include:
  • Securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises (“U.S. Government Securities”) and custodial receipts therefor
  • Securities issued or guaranteed by a foreign government or any of its political subdivisions, authorities, agencies, instrumentalities or by supranational entities
  • Corporate debt securities
  • Certificates of deposit and bankers’ acceptances issued or guaranteed by, or time deposits maintained at, U.S. or foreign banks (and their branches wherever located) having total assets of more than $1 billion
  • Commercial paper
  • Privately issued adjustable rate and fixed rate mortgage loans or other mortgage-related securities (“Mortgage-Backed Securities”) and asset-backed securities
The Fund may invest in fixed income securities rated at least BBB– or Baa3 at the time of purchase, and at least 25% of the Fund’s Total Assets will be invested in fixed income securities rated at least AAA or Aaa at the time of purchase. Securities will either be rated by a nationally recognized statistical rating organization (“NRSRO”) or, if unrated, determined by the Investment Adviser to be of comparable credit quality.

The Fund’s target duration range under normal interest rate conditions is expected to approximate that of the Bloomberg Barclays Global Aggregate Bond (Gross, USD, Hedged) Index, plus or minus 2.5 years, and over the last five years ended June 30, 2017, the duration of the index has ranged between 5.94 and 6.82 years. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price. Subject to the above, there are no limits on the length of remaining maturities of securities held by the Fund. The approximate interest rate sensitivity of the Fund is generally comparable to that of a 6 year bond.

The Fund seeks a return in excess of its benchmark index, the Bloomberg Barclays Global Aggregate Bond Index.

THE FUND IS “NON-DIVERSIFIED” UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED (THE “INVESTMENT COMPANY ACT”), AND MAY INVEST A LARGER PERCENTAGE OF ITS ASSETS IN FEWER ISSUERS THAN DIVERSIFIED MUTUAL FUNDS.
Principal Risks of the Fund
Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.

Credit/Default Risk.  An issuer or guarantor of fixed income securities or instruments held by the Fund may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant deterioration in net asset value (“NAV”).

Derivatives Risk.  The Fund’s use of forwards, interest rate futures, interest rate swaps, credit default swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund’s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund’s ability to invest in derivatives and other instruments and adversely affect the Fund’s performance and ability to pursue its investment objectives.

Foreign and Emerging Countries Risk.  Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls (including repatriation restrictions), sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. These risks may be more pronounced in connection with the Fund’s investments in securities of issuers located in emerging countries.

Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rate are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the yield and liquidity of fixed income securities and instruments held by the Fund.

Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.

Mortgage-Backed and Other Asset-Backed Securities Risk.  Mortgage-related and other asset-backed securities are subject to certain additional risks, including “extension risk” (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and “prepayment risk” (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Mortgage-backed securities offered by non-governmental issuers are subject to other risks as well, including failures of private insurers to meet their obligations and unexpectedly high rates of default on the mortgages backing the securities. Other asset-backed securities are subject to risks similar to those associated with mortgage-backed securities, as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.

Non-Diversification Risk.  The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified mutual funds. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.

Sovereign Default Risk.  The issuer of the non-U.S. sovereign debt held by the Fund or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay the principal or interest when due. This may result from political or social factors, the general economic environment of a country or levels of foreign debt or foreign currency exchange rates.

U.S. Government Securities Risk.  The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by the Federal National Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including their legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future.
Performance
The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Service, Investor, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart
The total return for Class A Shares for the six-month period ended
June 30, 2017 was 1.42%.

Best Quarter
Q3‘ 09              +5.47%

Worst Quarter
Q3 ‘08              –2.22%
AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Average Annual Total Returns - Goldman Sachs Global Income Fund
1 Year
5 Years
10 Years
Since Inception
Inception Date
Class A Shares (0.88%) 2.71% 3.75% 5.18% Aug. 02, 1991
Class A Shares | Returns After Taxes on Distributions (1.47%) 0.84% 2.05% 2.92% Aug. 02, 1991
Class A Shares | Returns After Taxes on Distributions and Sale of Fund Shares (0.50%) 1.33% 2.23% 3.08% Aug. 02, 1991
Class A Shares | Bloomberg Barclays Global Aggregate Bond Index (Gross, USD, Hedged) (reflects no deduction for fees or expenses) 3.94% 3.58% 4.39% 5.95% [1] Aug. 02, 1991
Class C Shares 1.36% 2.74% 3.38% 3.83% Aug. 15, 1997
Class C Shares | Bloomberg Barclays Global Aggregate Bond Index (Gross, USD, Hedged) (reflects no deduction for fees or expenses) 3.94% 3.58% 4.39% 5.19% [2] Aug. 15, 1997
Institutional Shares 3.43% 3.88% 4.52% 5.58% Aug. 01, 1995
Institutional Shares | Bloomberg Barclays Global Aggregate Bond Index (Gross, USD, Hedged) (reflects no deduction for fees or expenses) 3.94% 3.58% 4.39% 5.59% Aug. 01, 1995
Service Shares 2.75% 3.27% 3.95% 4.51% Mar. 12, 1997
Service Shares | Bloomberg Barclays Global Aggregate Bond Index (Gross, USD, Hedged) (reflects no deduction for fees or expenses) 3.94% 3.58% 4.39% 5.36% [3] Mar. 12, 1997
Investor Shares 3.34% 3.76% 3.52% Jul. 30, 2010
Investor Shares | Bloomberg Barclays Global Aggregate Bond Index (Gross, USD, Hedged) (reflects no deduction for fees or expenses) 3.94% 3.58% 3.76% Jul. 30, 2010
Class R6 Shares [4] 3.45% 3.86% 4.51% 5.58% Jul. 31, 2015
Class R6 Shares | Bloomberg Barclays Global Aggregate Bond Index (Gross, USD, Hedged) (reflects no deduction for fees or expenses) [4] 3.94% 3.58% 4.39% 5.59% Jul. 31, 2015
Class T Shares [5] (0.88%) 2.71% 3.75% 5.18% Jul. 28, 2017
Class T Shares | Bloomberg Barclays Global Aggregate Bond Index (Gross, USD, Hedged) (reflects no deduction for fees or expenses) [5] 3.94% 3.58% 4.39% 5.95% Jul. 28, 2017
[1] Calculated from September 1, 1991 to December 31, 2016.
[2] Calculated from September 1, 1997 to December 31, 2016.
[3] Calculated from April 1, 1997 to December 31, 2016.
[4] Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of Class R6 Shares shown in the table above is that of Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses.
[5] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 49 R103.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName GOLDMAN SACHS TRUST
Prospectus Date rr_ProspectusDate Jul. 28, 2017
Goldman Sachs Global Income Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Goldman Sachs Global Income Fund—Summary
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Goldman Sachs Global Income Fund (the “Fund”) seeks a high total return, emphasizing current income, and, to a lesser extent, providing opportunities for capital appreciation.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 49 and “Shareholder Guide-Common Questions Applicable to the Purchase of Class T Shares” beginning on page 53 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 90 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees
(fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination July 28, 2018
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in the annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 289% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 289.00%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock A contingent deferred sales charge (“CDSC”) of 1% is imposed on Class C Shares redeemed within 12 months of purchase.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 49 and “Shareholder Guide-Common Questions Applicable to the Purchase of Class T Shares” beginning on page 53 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 90 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates the “Other Expenses” for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent The “Other Expenses” for Class R6 Shares have been restated
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Service, Investor, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Service, Investor, Class R6 and/or Class T Shares at the end of those periods, unless otherwise stated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the expense limitation arrangement for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption Assuming complete redemption at end of period
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption Assuming no redemption
Strategy [Heading] rr_StrategyHeading Principal Strategy
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in a portfolio of fixed income securities of U.S. and foreign issuers. Foreign securities include securities of issuers located outside the U.S. or securities quoted or denominated in a currency other than the U.S. dollar. The Fund also enters into transactions in foreign currencies, typically through the use of forward contracts and swap contracts. The Fund may also engage in forward foreign currency transactions for both hedging and non-hedging purposes. The Fund also intends to invest in derivatives, including (but not limited to) forwards, interest rate futures, interest rate swaps and credit default swaps, which are used primarily to hedge the Fund’s portfolio risks, manage the Fund’s duration and/or gain exposure to certain fixed income securities or indices. Under normal market conditions, the Fund will:
  • Have at least 30% of its Net Assets, after considering the effect of currency positions, denominated in U.S. dollars
  • Invest in securities of issuers in at least three countries
  • Seek to meet its investment objective by pursuing investment opportunities in foreign and domestic fixed income securities markets and by engaging in currency transactions to seek to enhance returns and to seek to hedge its portfolio against currency exchange rate fluctuations
The Fund may invest more than 25% of its total assets in the securities of corporate and governmental issuers located in each of Canada, Germany, Japan and the United Kingdom as well as in the securities of U.S. issuers. Not more than 25% of the Fund’s total assets will be invested in securities of issuers in any other single foreign country. The Fund may also invest up to 10% of its total assets measured at the time of purchase (“Total Assets”) in sovereign and corporate debt securities and other instruments of issuers in emerging market countries (“emerging countries debt”).

The fixed income securities in which the Fund may invest include:
  • Securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises (“U.S. Government Securities”) and custodial receipts therefor
  • Securities issued or guaranteed by a foreign government or any of its political subdivisions, authorities, agencies, instrumentalities or by supranational entities
  • Corporate debt securities
  • Certificates of deposit and bankers’ acceptances issued or guaranteed by, or time deposits maintained at, U.S. or foreign banks (and their branches wherever located) having total assets of more than $1 billion
  • Commercial paper
  • Privately issued adjustable rate and fixed rate mortgage loans or other mortgage-related securities (“Mortgage-Backed Securities”) and asset-backed securities
The Fund may invest in fixed income securities rated at least BBB– or Baa3 at the time of purchase, and at least 25% of the Fund’s Total Assets will be invested in fixed income securities rated at least AAA or Aaa at the time of purchase. Securities will either be rated by a nationally recognized statistical rating organization (“NRSRO”) or, if unrated, determined by the Investment Adviser to be of comparable credit quality.

The Fund’s target duration range under normal interest rate conditions is expected to approximate that of the Bloomberg Barclays Global Aggregate Bond (Gross, USD, Hedged) Index, plus or minus 2.5 years, and over the last five years ended June 30, 2017, the duration of the index has ranged between 5.94 and 6.82 years. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price. Subject to the above, there are no limits on the length of remaining maturities of securities held by the Fund. The approximate interest rate sensitivity of the Fund is generally comparable to that of a 6 year bond.

The Fund seeks a return in excess of its benchmark index, the Bloomberg Barclays Global Aggregate Bond Index.

THE FUND IS “NON-DIVERSIFIED” UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED (THE “INVESTMENT COMPANY ACT”), AND MAY INVEST A LARGER PERCENTAGE OF ITS ASSETS IN FEWER ISSUERS THAN DIVERSIFIED MUTUAL FUNDS.
Risk [Heading] rr_RiskHeading Principal Risks of the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.

Credit/Default Risk.  An issuer or guarantor of fixed income securities or instruments held by the Fund may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant deterioration in net asset value (“NAV”).

Derivatives Risk.  The Fund’s use of forwards, interest rate futures, interest rate swaps, credit default swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund’s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund’s ability to invest in derivatives and other instruments and adversely affect the Fund’s performance and ability to pursue its investment objectives.

Foreign and Emerging Countries Risk.  Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls (including repatriation restrictions), sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. These risks may be more pronounced in connection with the Fund’s investments in securities of issuers located in emerging countries.

Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rate are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the yield and liquidity of fixed income securities and instruments held by the Fund.

Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.

Mortgage-Backed and Other Asset-Backed Securities Risk.  Mortgage-related and other asset-backed securities are subject to certain additional risks, including “extension risk” (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and “prepayment risk” (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Mortgage-backed securities offered by non-governmental issuers are subject to other risks as well, including failures of private insurers to meet their obligations and unexpectedly high rates of default on the mortgages backing the securities. Other asset-backed securities are subject to risks similar to those associated with mortgage-backed securities, as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.

Non-Diversification Risk.  The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified mutual funds. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.

Sovereign Default Risk.  The issuer of the non-U.S. sovereign debt held by the Fund or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay the principal or interest when due. This may result from political or social factors, the general economic environment of a country or levels of foreign debt or foreign currency exchange rates.

U.S. Government Securities Risk.  The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by the Federal National Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including their legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future.
Risk Lose Money [Text] rr_RiskLoseMoney Loss of money is a risk of investing in the Fund.
Risk Nondiversified Status [Text] rr_RiskNondiversifiedStatus Non-Diversification Risk.  The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified mutual funds. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Service, Investor, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Service, Investor, Class R6 and Class T Shares compare to those of a broad-based securities market index.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess As of the date of the Prospectus, Class T Shares have not commenced operations.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.gsamfunds.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The total return for Class A Shares for the six-month period ended
June 30, 2017 was 1.42%.

Best Quarter
Q3‘ 09              +5.47%

Worst Quarter
Q3 ‘08              –2.22%
Performance Table Heading rr_PerformanceTableHeading AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Performance Table Does Reflect Sales Loads rr_PerformanceTableDoesReflectSalesLoads Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Goldman Sachs Global Income Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 3.75%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.65%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.23%
Other Expenses rr_OtherExpensesOverAssets 0.23% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.13%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.10%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.03% [4]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 100,000
1 Year rr_ExpenseExampleYear01 476
3 Years rr_ExpenseExampleYear03 711
5 Years rr_ExpenseExampleYear05 965
10 Years rr_ExpenseExampleYear10 $ 1,689
2007 rr_AnnualReturn2007 6.00%
2008 rr_AnnualReturn2008 (1.79%)
2009 rr_AnnualReturn2009 11.95%
2010 rr_AnnualReturn2010 4.40%
2011 rr_AnnualReturn2011 3.93%
2012 rr_AnnualReturn2012 7.23%
2013 rr_AnnualReturn2013 0.67%
2014 rr_AnnualReturn2014 6.28%
2015 rr_AnnualReturn2015 0.52%
2016 rr_AnnualReturn2016 3.00%
Year to Date Return, Label rr_YearToDateReturnLabel total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 1.42%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 5.47%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (2.22%)
1 Year rr_AverageAnnualReturnYear01 (0.88%)
5 Years rr_AverageAnnualReturnYear05 2.71%
10 Years rr_AverageAnnualReturnYear10 3.75%
Since Inception rr_AverageAnnualReturnSinceInception 5.18%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 02, 1991
Goldman Sachs Global Income Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Management Fees rr_ManagementFeesOverAssets 0.65%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.23%
Other Expenses rr_OtherExpensesOverAssets 0.48% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.88%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.09%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.79% [4]
1 Year rr_ExpenseExampleYear01 $ 282
3 Years rr_ExpenseExampleYear03 582
5 Years rr_ExpenseExampleYear05 1,008
10 Years rr_ExpenseExampleYear10 2,194
1 Year rr_ExpenseExampleNoRedemptionYear01 182
3 Years rr_ExpenseExampleNoRedemptionYear03 582
5 Years rr_ExpenseExampleNoRedemptionYear05 1,008
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,194
1 Year rr_AverageAnnualReturnYear01 1.36%
5 Years rr_AverageAnnualReturnYear05 2.74%
10 Years rr_AverageAnnualReturnYear10 3.38%
Since Inception rr_AverageAnnualReturnSinceInception 3.83%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 15, 1997
Goldman Sachs Global Income Fund | Institutional  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.65%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.14%
Other Expenses rr_OtherExpensesOverAssets 0.14% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.79%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.10%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.69% [4]
1 Year rr_ExpenseExampleYear01 $ 70
3 Years rr_ExpenseExampleYear03 242
5 Years rr_ExpenseExampleYear05 429
10 Years rr_ExpenseExampleYear10 $ 969
1 Year rr_AverageAnnualReturnYear01 3.43%
5 Years rr_AverageAnnualReturnYear05 3.88%
10 Years rr_AverageAnnualReturnYear10 4.52%
Since Inception rr_AverageAnnualReturnSinceInception 5.58%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 01, 1995
Goldman Sachs Global Income Fund | Service  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.65%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets 0.25%
All Other Expenses rr_Component3OtherExpensesOverAssets 0.14%
Other Expenses rr_OtherExpensesOverAssets 0.39% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.29%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.10%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.19% [4]
1 Year rr_ExpenseExampleYear01 $ 121
3 Years rr_ExpenseExampleYear03 399
5 Years rr_ExpenseExampleYear05 698
10 Years rr_ExpenseExampleYear10 $ 1,548
1 Year rr_AverageAnnualReturnYear01 2.75%
5 Years rr_AverageAnnualReturnYear05 3.27%
10 Years rr_AverageAnnualReturnYear10 3.95%
Since Inception rr_AverageAnnualReturnSinceInception 4.51%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 12, 1997
Goldman Sachs Global Income Fund | Investor  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.65%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.23%
Other Expenses rr_OtherExpensesOverAssets 0.23% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.88%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.10%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.78% [4]
1 Year rr_ExpenseExampleYear01 $ 80
3 Years rr_ExpenseExampleYear03 271
5 Years rr_ExpenseExampleYear05 478
10 Years rr_ExpenseExampleYear10 $ 1,075
1 Year rr_AverageAnnualReturnYear01 3.34%
5 Years rr_AverageAnnualReturnYear05 3.76%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 3.52%
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 30, 2010
Goldman Sachs Global Income Fund | Class R6  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.65%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.12%
Other Expenses rr_OtherExpensesOverAssets 0.12% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.77%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.09%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.68% [4]
1 Year rr_ExpenseExampleYear01 $ 69
3 Years rr_ExpenseExampleYear03 237
5 Years rr_ExpenseExampleYear05 419
10 Years rr_ExpenseExampleYear10 $ 946
1 Year rr_AverageAnnualReturnYear01 3.45% [5]
5 Years rr_AverageAnnualReturnYear05 3.86% [5]
10 Years rr_AverageAnnualReturnYear10 4.51% [5]
Since Inception rr_AverageAnnualReturnSinceInception 5.58% [5]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [5]
Goldman Sachs Global Income Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.65%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.23%
Other Expenses rr_OtherExpensesOverAssets 0.23% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.13%
Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.10%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.03% [4]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
1 Year rr_ExpenseExampleYear01 352
3 Years rr_ExpenseExampleYear03 590
5 Years rr_ExpenseExampleYear05 847
10 Years rr_ExpenseExampleYear10 $ 1,582
1 Year rr_AverageAnnualReturnYear01 (0.88%) [6]
5 Years rr_AverageAnnualReturnYear05 2.71% [6]
10 Years rr_AverageAnnualReturnYear10 3.75% [6]
Since Inception rr_AverageAnnualReturnSinceInception 5.18% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [6]
Goldman Sachs Global Income Fund | Returns After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (1.47%)
5 Years rr_AverageAnnualReturnYear05 0.84%
10 Years rr_AverageAnnualReturnYear10 2.05%
Since Inception rr_AverageAnnualReturnSinceInception 2.92%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 02, 1991
Goldman Sachs Global Income Fund | Returns After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (0.50%)
5 Years rr_AverageAnnualReturnYear05 1.33%
10 Years rr_AverageAnnualReturnYear10 2.23%
Since Inception rr_AverageAnnualReturnSinceInception 3.08%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 02, 1991
Goldman Sachs Global Income Fund | Bloomberg Barclays Global Aggregate Bond Index (Gross, USD, Hedged) (reflects no deduction for fees or expenses) | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 3.94%
5 Years rr_AverageAnnualReturnYear05 3.58%
10 Years rr_AverageAnnualReturnYear10 4.39%
Since Inception rr_AverageAnnualReturnSinceInception 5.95% [7]
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 02, 1991
Goldman Sachs Global Income Fund | Bloomberg Barclays Global Aggregate Bond Index (Gross, USD, Hedged) (reflects no deduction for fees or expenses) | Class C  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 3.94%
5 Years rr_AverageAnnualReturnYear05 3.58%
10 Years rr_AverageAnnualReturnYear10 4.39%
Since Inception rr_AverageAnnualReturnSinceInception 5.19% [8]
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 15, 1997
Goldman Sachs Global Income Fund | Bloomberg Barclays Global Aggregate Bond Index (Gross, USD, Hedged) (reflects no deduction for fees or expenses) | Institutional  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 3.94%
5 Years rr_AverageAnnualReturnYear05 3.58%
10 Years rr_AverageAnnualReturnYear10 4.39%
Since Inception rr_AverageAnnualReturnSinceInception 5.59%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 01, 1995
Goldman Sachs Global Income Fund | Bloomberg Barclays Global Aggregate Bond Index (Gross, USD, Hedged) (reflects no deduction for fees or expenses) | Service  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 3.94%
5 Years rr_AverageAnnualReturnYear05 3.58%
10 Years rr_AverageAnnualReturnYear10 4.39%
Since Inception rr_AverageAnnualReturnSinceInception 5.36% [9]
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 12, 1997
Goldman Sachs Global Income Fund | Bloomberg Barclays Global Aggregate Bond Index (Gross, USD, Hedged) (reflects no deduction for fees or expenses) | Investor  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 3.94%
5 Years rr_AverageAnnualReturnYear05 3.58%
10 Years rr_AverageAnnualReturnYear10 3.76%
Since Inception rr_AverageAnnualReturnSinceInception
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 30, 2010
Goldman Sachs Global Income Fund | Bloomberg Barclays Global Aggregate Bond Index (Gross, USD, Hedged) (reflects no deduction for fees or expenses) | Class R6  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 3.94% [5]
5 Years rr_AverageAnnualReturnYear05 3.58% [5]
10 Years rr_AverageAnnualReturnYear10 4.39% [5]
Since Inception rr_AverageAnnualReturnSinceInception 5.59% [5]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [5]
Goldman Sachs Global Income Fund | Bloomberg Barclays Global Aggregate Bond Index (Gross, USD, Hedged) (reflects no deduction for fees or expenses) | Class T  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 3.94% [6]
5 Years rr_AverageAnnualReturnYear05 3.58% [6]
10 Years rr_AverageAnnualReturnYear10 4.39% [6]
Since Inception rr_AverageAnnualReturnSinceInception 5.95% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [6]
[1] A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase.
[2] The "Other Expenses" for Class R6 Shares have been restated and the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[3] The Investment Adviser has agreed to reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, shareholder administration fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.004% of the Fund's average daily net assets through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees.
[4] After Expense Limitation
[5] Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of Class R6 Shares shown in the table above is that of Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses.
[6] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
[7] Calculated from September 1, 1991 to December 31, 2016.
[8] Calculated from September 1, 1997 to December 31, 2016.
[9] Calculated from April 1, 1997 to December 31, 2016.
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Goldman Sachs Strategic Income Fund
Goldman Sachs Strategic Income Fund—Summary
Investment Objective
The Goldman Sachs Strategic Income Fund (the “Fund”) seeks total return comprised of income and capital appreciation.
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 49 and “Shareholder Guide-Common Questions Applicable to the Purchase of Class T Shares” beginning on page 53 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 90 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees
(fees paid directly from your investment)
Shareholder Fees - Goldman Sachs Strategic Income Fund
Class A
Class C
Institutional
Investor
Class R
Class R6
Class T
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 3.75% none none none none none 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) [1] none 1.00% none none none none none
[1] A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase.
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses - Goldman Sachs Strategic Income Fund
Class A
Class C
Institutional
Investor
Class R
Class R6
Class T
Management Fees 0.51% 0.51% 0.51% 0.51% 0.51% 0.51% 0.51%
Distribution and/or Service (12b-1) Fees 0.25% 0.75% none none 0.50% none 0.25%
Other Expenses [1] 0.17% 0.42% 0.08% 0.17% 0.17% 0.07% 0.17%
Service Fees none 0.25% none none none none none
All Other Expenses 0.17% 0.17% 0.08% 0.17% 0.17% 0.07% 0.17%
Total Annual Fund Operating Expenses 0.93% 1.68% 0.59% 0.68% 1.18% 0.58% 0.93%
[1] The "Other Expenses" for Class R6 Shares have been restated and the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Investor, Class R, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Investor, Class R, Class R6 and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Assuming complete redemption at end of period
Expense Example - Goldman Sachs Strategic Income Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A Shares 466 660 870 1,475
Class C Shares 271 530 913 1,987
Institutional Shares 60 189 329 738
Investor Shares 69 218 379 847
Class R Shares 120 375 649 1,432
Class R6 Shares 59 186 324 726
Class T Shares 343 539 752 1,364
Assuming no redemption
Expense Example, No Redemption
1 Year
3 Years
5 Years
10 Years
Goldman Sachs Strategic Income Fund | Class C Shares | USD ($) 171 530 913 1,987
Portfolio Turnover
The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in the annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 184% of the average value of its portfolio.
Principal Strategy
The Fund invests in a broadly diversified portfolio of U.S. and foreign investment grade and non-investment grade fixed income investments including, but not limited to: U.S. Government securities (such as U.S. Treasury securities or Treasury inflation protected securities), non-U.S. sovereign debt, agency securities, corporate debt securities, agency and non-agency mortgage-backed securities, asset-backed securities, custodial receipts, municipal securities, loan participations and loan assignments and convertible securities. The Fund’s investments in loan participations and loan assignments may include, but are not limited to: (a) senior secured floating rate and fixed rate loans or debt (“Senior Loans”), (b) second lien or other subordinated or unsecured floating rate and fixed rate loans or debt (“Second Lien Loans”) and (c) other types of secured or unsecured loans with fixed, floating or variable interest rates. The Fund may invest in fixed income securities of any maturity.

Non-investment grade fixed income securities are securities rated BB+, Ba1 or below by a nationally recognized statistical rating organization (“NRSRO”), or, if unrated, determined by the Investment Adviser to be of comparable credit quality.

The Fund may invest in sovereign and corporate debt securities and other instruments of issuers in emerging market countries (“emerging countries debt”). Such investments may include sovereign debt issued by emerging countries that have sovereign ratings below investment grade or that are unrated. There is no limitation to the amount the Fund invests in non-investment grade or emerging market securities. From time to time, the Fund may also invest in preferred stock. The Fund’s investments may be denominated in currencies other than the U.S. dollar.

The Fund may engage in forward foreign currency transactions for both hedging and non-hedging purposes. The Fund also intends to invest in other derivative instruments. Derivatives are instruments that have a value based on another instrument, exchange rate, interest rate or index. The Fund’s investments in derivatives may include, in addition to forward foreign currency exchange contracts, futures contracts (including interest rate futures and treasury and sovereign bond futures), options (including options on futures contracts, swaps, bonds, stocks and indexes), swaps (including credit default, index, basis, total return, volatility, interest rate and currency swaps), and other forward contracts. The Fund may use derivatives instead of buying and selling bonds to manage duration, to gain exposure or to short individual securities or to gain exposure to a credit or asset backed index.

The Fund may implement short positions and may do so by using swaps or futures, or through short sales of any instrument that the Fund may purchase for investment. For example, the Fund may enter into a futures contract pursuant to which it agrees to sell an asset (that it does not currently own) at a specified price at a specified point in the future. This gives the Fund a short position with respect to that asset. The Fund will benefit to the extent the asset decreases in value (and will be harmed to the extent the asset increases in value) between the time it enters into the futures contract and the agreed date of sale. Alternatively, the Fund may sell an instrument (e.g., a bond, or a futures contract) it does not own in anticipation of a decline in the market value of the instrument, and then borrow the instrument to make delivery to the buyer. In these transactions, the Fund is obligated to replace the instrument borrowed by purchasing it at the market price at the time of replacement.

“Strategic” in the Fund’s name means that the Fund seeks both current income and capital appreciation as elements of total return. The Fund attempts to exploit pricing anomalies throughout the global fixed income and currency markets. Additionally, the Fund uses short positions and derivatives for both investment and hedging purposes. The Fund may sell investments that the portfolio managers believe are no longer favorable with regard to these factors.

The Fund’s benchmark index is the Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index.
Principal Risks of the Fund
Loss of money is a risk of investing in the Fund. The Investment Adviser will not manage the investment program of the Fund by reference to a benchmark index (i.e., unconstrained). By removing benchmark constraints, the Fund is able to invest across the global fixed income spectrum without regard to sector, quality, maturity or market capitalization limitations, including in asset classes in which more traditional or benchmark-constrained fixed income funds do not typically invest (or do not invest to such an extent). Due to this flexible strategy, the Fund’s risk exposure may vary, and the Fund may underperform traditional fixed income indices. There can be no assurance that the discretionary element of the investment processes of the Investment Adviser will be exercised in a manner that is successful or that is not adverse to the Fund, or that the Fund will outperform more traditional or benchmark-constrained fixed income funds. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.

Credit/Default Risk.  An issuer or guarantor of fixed income securities or instruments held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund's liquidity and cause significant deterioration in net asset value ("NAV"). These risks are more pronounced in connection with the Fund's investments in non-investment grade fixed income securities.

Derivatives Risk.  The Fund's use of options, futures, forwards, swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. Foreign exchange rates can be extremely volatile and a variance in the degree of volatility of the market or in the direction of the market from the Investment Adviser's expectations for non-hedging forward foreign currency transactions may produce significant losses to the Fund. In December 2015, the SEC proposed new regulations relating to a mutual fund's use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund's ability to invest in derivatives and other instruments and adversely affect the Fund's performance and ability to pursue its investment objectives.

Floating and Variable Rate Obligations Risk.  For floating and variable rate obligations, there may be a lag between an actual change in the underlying interest rate benchmark and the reset time for an interest payment of such an obligation, which could harm or benefit the Fund, depending on the interest rate environment or other circumstances. In a rising interest rate environment, for example, a floating or variable rate obligation that does not reset immediately would prevent the Fund from taking full advantage of rising interest rates in a timely manner. However, in a declining interest rate environment, the Fund may benefit from a lag due to an obligation’s interest rate payment not being immediately impacted by a decline in interest rates.

Certain floating and variable rate obligations have an interest rate floor feature, which prevents the interest rate payable by the security from dropping below a specified level as compared to a reference interest rate (the “reference rate”), such as LIBOR. Such a floor protects the Fund from losses resulting from a decrease in the reference rate below the specified level. However, if the reference rate is below the floor, there will be a lag between a rise in the reference rate and a rise in the interest rate payable by the obligation, and the Fund may not benefit from increasing interest rates for a significant amount of time.

Foreign and Emerging Countries Risk.  Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls (including repatriation restrictions), sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. These risks may be more pronounced in connection with the Fund's investments in securities of issuers located in emerging countries.

Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rate are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund's investments. Fluctuations in interest rates may also affect the yield and liquidity of fixed income securities and instruments held by the Fund.

Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.

Liquidity Risk.  The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests or other reasons. To meet redemption requests, the Fund may be forced to sell securities at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.

Loan-Related Investments Risk.  In addition to risks generally associated with debt investments, loan-related investments such as loan participations and assignments are subject to other risks. Although a loan obligation may be fully collateralized at the time of acquisition, the collateral may decline in value, be relatively illiquid, or lose all or substantially all of its value subsequent to investment. Many loan investments are subject to legal or contractual restrictions on resale and may be relatively illiquid and difficult to value. There is less readily available, reliable information about most loan investments than is the case for many other types of securities. Substantial increases in interest rates may cause an increase in loan obligation defaults. With respect to loan participations, the Fund may not always have direct recourse against a borrower if the borrower fails to pay scheduled principal and/or interest; may be subject to greater delays, expenses and risks than if the Fund had purchased a direct obligation of the borrower; and may be regarded as the creditor of the agent lender (rather than the borrower), subjecting the Fund to the creditworthiness of that lender as well. Investors in loans, such as the Fund, may not be entitled to rely on the anti-fraud protections of the federal securities laws, although they may be entitled to certain contractual remedies. The market for loan obligations may be subject to irregular trading activity, wide bid/ask spreads and extended trade settlement periods. Because transactions in many loans are subject to extended trade settlement periods, the Fund may not receive the proceeds from the sale of a loan for a period after the sale. As a result, sale proceeds related to the sale of loans may not be available to make additional investments or to meet the Fund’s redemption obligations for a period after the sale of the loans, and, as a result, the Fund may have to sell other investments or engage in borrowing transactions, such as borrowing from its credit facility, if necessary to raise cash to meet its obligations.

Senior Loans hold the most senior position in the capital structure of a business entity, and are typically secured with specific collateral, but are nevertheless usually rated below investment grade. Because Second Lien Loans are subordinated or unsecured and thus lower in priority of payment to Senior Loans, they are subject to the additional risk that the cash flow of the borrower and property securing the loan or debt, if any, may be insufficient to meet scheduled payments after giving effect to the senior secured obligations of the borrower. Second Lien Loans generally have greater price volatility than Senior Loans and may be less liquid.

Management Risk.  A strategy used by the Investment Adviser may fail to produce the intended results.

Market Risk.  The value of the securities in which the Fund invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/or general economic conditions throughout the world due to increasingly interconnected global economies and financial markets.

Mortgage-Backed and Other Asset-Backed Securities Risk.  Mortgage-related and other asset-backed securities are subject to certain additional risks, including “extension risk” (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and “prepayment risk” (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Mortgage-backed securities offered by non-governmental issuers are subject to other risks as well, including failures of private insurers to meet their obligations and unexpectedly high rates of default on the mortgages backing the securities. Other asset-backed securities are subject to risks similar to those associated with Mortgage-backed securities, as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.

Municipal Securities Risk.  Municipal securities are subject to credit/default risk, interest rate risk and certain additional risks. The Fund may be more sensitive to adverse economic, business, political, environmental or other developments if it invests a substantial portion of its assets in the bonds of similar projects (such as those relating to education, health care, housing, transportation, and utilities), industrial development bonds, or in particular types of municipal securities (such as general obligation bonds, private activity bonds and moral obligation bonds). Generally, municipalities continue to experience difficulties in the current economic and political environment.

Non-Investment Grade Fixed Income Securities Risk.  Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as “junk bonds”) are considered speculative and are subject to the increased risk of an issuer’s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity.

Short Position Risk.  The Fund may enter into a short position through a futures contract, an option or swap agreement or through short sales of any instrument that the Fund may purchase for investment. Taking short positions involves leverage of the Fund’s assets and presents various risks. If the value of the underlying instrument or market in which the Fund has taken a short position increases, then the Fund will incur a loss equal to the increase in value from the time that the short position was entered into plus any related interest payments or other fees. Taking short positions involves the risk that losses may be disproportionate, may exceed the amount invested and may be unlimited.

Sovereign Default Risk.  An issuer of non-U.S. sovereign debt held by the Fund or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay the principal or interest when due. This may result from political or social factors, the general economic environment of a country or levels of foreign debt or foreign currency exchange rates.

U.S. Government Securities Risk.  The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by the Federal National Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including their legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future.
Performance
The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Investor, Class R, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart
The total return for Class A Shares for the six-month period ended
June 30, 2017 was 0.99%.

Best Quarter
Q3 ‘12              +5.26%

Worst Quarter
Q3 ‘11              –3.18%
AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Average Annual Total Returns - Goldman Sachs Strategic Income Fund
1 Year
5 Years
Since Inception
Inception Date
Class A Shares (1.59%) 2.73% 2.01% Jun. 30, 2010
Class A Shares | Returns After Taxes on Distributions (2.42%) 1.41% 0.75% Jun. 30, 2010
Class A Shares | Returns After Taxes on Distributions and Sale of Fund Shares (0.91%) 1.53% 1.02% Jun. 30, 2010
Class A Shares | Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index (reflects no deduction for fees or expenses) 0.66% 0.39% 0.38% Jun. 30, 2010
Class C Shares 0.45% 2.75% 1.85% Jun. 30, 2010
Class C Shares | Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index (reflects no deduction for fees or expenses) 0.66% 0.39% 0.38% Jun. 30, 2010
Institutional Shares 2.53% 3.87% 2.96% Jun. 30, 2010
Institutional Shares | Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index (reflects no deduction for fees or expenses) 0.66% 0.39% 0.38% Jun. 30, 2010
Investor Shares 2.34% 3.78% 2.85% Jun. 30, 2010
Investor Shares | Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index (reflects no deduction for fees or expenses) 0.66% 0.39% 0.38% Jun. 30, 2010
Class R Shares 1.94% 3.27% 2.35% Jun. 30, 2010
Class R Shares | Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index (reflects no deduction for fees or expenses) 0.66% 0.39% 0.38% Jun. 30, 2010
Class R6 Shares [1] 2.56% 3.87% 2.96% Jul. 31, 2015
Class R6 Shares | Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index (reflects no deduction for fees or expenses) [1] 0.66% 0.39% 0.38% Jul. 31, 2015
Class T Shares [2] (1.59%) 2.73% 2.01% Jul. 28, 2017
Class T Shares | Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index (reflects no deduction for fees or expenses) [2] 0.66% 0.39% 0.38% Jul. 28, 2017
[1] Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of Class R6 Shares shown in the table above is that of Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses.
[2] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
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Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName GOLDMAN SACHS TRUST
Prospectus Date rr_ProspectusDate Jul. 28, 2017
Goldman Sachs Strategic Income Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Goldman Sachs Strategic Income Fund—Summary
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Goldman Sachs Strategic Income Fund (the “Fund”) seeks total return comprised of income and capital appreciation.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 49 and “Shareholder Guide-Common Questions Applicable to the Purchase of Class T Shares” beginning on page 53 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 90 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees
(fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in the annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 184% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 184.00%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 49 and “Shareholder Guide-Common Questions Applicable to the Purchase of Class T Shares” beginning on page 53 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 90 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent The "Other Expenses" for Class R6 Shares have been restated
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Investor, Class R, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Investor, Class R, Class R6 and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption Assuming complete redemption at end of period
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption Assuming no redemption
Strategy [Heading] rr_StrategyHeading Principal Strategy
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund invests in a broadly diversified portfolio of U.S. and foreign investment grade and non-investment grade fixed income investments including, but not limited to: U.S. Government securities (such as U.S. Treasury securities or Treasury inflation protected securities), non-U.S. sovereign debt, agency securities, corporate debt securities, agency and non-agency mortgage-backed securities, asset-backed securities, custodial receipts, municipal securities, loan participations and loan assignments and convertible securities. The Fund’s investments in loan participations and loan assignments may include, but are not limited to: (a) senior secured floating rate and fixed rate loans or debt (“Senior Loans”), (b) second lien or other subordinated or unsecured floating rate and fixed rate loans or debt (“Second Lien Loans”) and (c) other types of secured or unsecured loans with fixed, floating or variable interest rates. The Fund may invest in fixed income securities of any maturity.

Non-investment grade fixed income securities are securities rated BB+, Ba1 or below by a nationally recognized statistical rating organization (“NRSRO”), or, if unrated, determined by the Investment Adviser to be of comparable credit quality.

The Fund may invest in sovereign and corporate debt securities and other instruments of issuers in emerging market countries (“emerging countries debt”). Such investments may include sovereign debt issued by emerging countries that have sovereign ratings below investment grade or that are unrated. There is no limitation to the amount the Fund invests in non-investment grade or emerging market securities. From time to time, the Fund may also invest in preferred stock. The Fund’s investments may be denominated in currencies other than the U.S. dollar.

The Fund may engage in forward foreign currency transactions for both hedging and non-hedging purposes. The Fund also intends to invest in other derivative instruments. Derivatives are instruments that have a value based on another instrument, exchange rate, interest rate or index. The Fund’s investments in derivatives may include, in addition to forward foreign currency exchange contracts, futures contracts (including interest rate futures and treasury and sovereign bond futures), options (including options on futures contracts, swaps, bonds, stocks and indexes), swaps (including credit default, index, basis, total return, volatility, interest rate and currency swaps), and other forward contracts. The Fund may use derivatives instead of buying and selling bonds to manage duration, to gain exposure or to short individual securities or to gain exposure to a credit or asset backed index.

The Fund may implement short positions and may do so by using swaps or futures, or through short sales of any instrument that the Fund may purchase for investment. For example, the Fund may enter into a futures contract pursuant to which it agrees to sell an asset (that it does not currently own) at a specified price at a specified point in the future. This gives the Fund a short position with respect to that asset. The Fund will benefit to the extent the asset decreases in value (and will be harmed to the extent the asset increases in value) between the time it enters into the futures contract and the agreed date of sale. Alternatively, the Fund may sell an instrument (e.g., a bond, or a futures contract) it does not own in anticipation of a decline in the market value of the instrument, and then borrow the instrument to make delivery to the buyer. In these transactions, the Fund is obligated to replace the instrument borrowed by purchasing it at the market price at the time of replacement.

“Strategic” in the Fund’s name means that the Fund seeks both current income and capital appreciation as elements of total return. The Fund attempts to exploit pricing anomalies throughout the global fixed income and currency markets. Additionally, the Fund uses short positions and derivatives for both investment and hedging purposes. The Fund may sell investments that the portfolio managers believe are no longer favorable with regard to these factors.

The Fund’s benchmark index is the Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index.
Risk [Heading] rr_RiskHeading Principal Risks of the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Loss of money is a risk of investing in the Fund. The Investment Adviser will not manage the investment program of the Fund by reference to a benchmark index (i.e., unconstrained). By removing benchmark constraints, the Fund is able to invest across the global fixed income spectrum without regard to sector, quality, maturity or market capitalization limitations, including in asset classes in which more traditional or benchmark-constrained fixed income funds do not typically invest (or do not invest to such an extent). Due to this flexible strategy, the Fund’s risk exposure may vary, and the Fund may underperform traditional fixed income indices. There can be no assurance that the discretionary element of the investment processes of the Investment Adviser will be exercised in a manner that is successful or that is not adverse to the Fund, or that the Fund will outperform more traditional or benchmark-constrained fixed income funds. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.

Credit/Default Risk.  An issuer or guarantor of fixed income securities or instruments held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund's liquidity and cause significant deterioration in net asset value ("NAV"). These risks are more pronounced in connection with the Fund's investments in non-investment grade fixed income securities.

Derivatives Risk.  The Fund's use of options, futures, forwards, swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. Foreign exchange rates can be extremely volatile and a variance in the degree of volatility of the market or in the direction of the market from the Investment Adviser's expectations for non-hedging forward foreign currency transactions may produce significant losses to the Fund. In December 2015, the SEC proposed new regulations relating to a mutual fund's use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund's ability to invest in derivatives and other instruments and adversely affect the Fund's performance and ability to pursue its investment objectives.

Floating and Variable Rate Obligations Risk.  For floating and variable rate obligations, there may be a lag between an actual change in the underlying interest rate benchmark and the reset time for an interest payment of such an obligation, which could harm or benefit the Fund, depending on the interest rate environment or other circumstances. In a rising interest rate environment, for example, a floating or variable rate obligation that does not reset immediately would prevent the Fund from taking full advantage of rising interest rates in a timely manner. However, in a declining interest rate environment, the Fund may benefit from a lag due to an obligation’s interest rate payment not being immediately impacted by a decline in interest rates.

Certain floating and variable rate obligations have an interest rate floor feature, which prevents the interest rate payable by the security from dropping below a specified level as compared to a reference interest rate (the “reference rate”), such as LIBOR. Such a floor protects the Fund from losses resulting from a decrease in the reference rate below the specified level. However, if the reference rate is below the floor, there will be a lag between a rise in the reference rate and a rise in the interest rate payable by the obligation, and the Fund may not benefit from increasing interest rates for a significant amount of time.

Foreign and Emerging Countries Risk.  Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls (including repatriation restrictions), sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. These risks may be more pronounced in connection with the Fund's investments in securities of issuers located in emerging countries.

Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rate are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund's investments. Fluctuations in interest rates may also affect the yield and liquidity of fixed income securities and instruments held by the Fund.

Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.

Liquidity Risk.  The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests or other reasons. To meet redemption requests, the Fund may be forced to sell securities at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.

Loan-Related Investments Risk.  In addition to risks generally associated with debt investments, loan-related investments such as loan participations and assignments are subject to other risks. Although a loan obligation may be fully collateralized at the time of acquisition, the collateral may decline in value, be relatively illiquid, or lose all or substantially all of its value subsequent to investment. Many loan investments are subject to legal or contractual restrictions on resale and may be relatively illiquid and difficult to value. There is less readily available, reliable information about most loan investments than is the case for many other types of securities. Substantial increases in interest rates may cause an increase in loan obligation defaults. With respect to loan participations, the Fund may not always have direct recourse against a borrower if the borrower fails to pay scheduled principal and/or interest; may be subject to greater delays, expenses and risks than if the Fund had purchased a direct obligation of the borrower; and may be regarded as the creditor of the agent lender (rather than the borrower), subjecting the Fund to the creditworthiness of that lender as well. Investors in loans, such as the Fund, may not be entitled to rely on the anti-fraud protections of the federal securities laws, although they may be entitled to certain contractual remedies. The market for loan obligations may be subject to irregular trading activity, wide bid/ask spreads and extended trade settlement periods. Because transactions in many loans are subject to extended trade settlement periods, the Fund may not receive the proceeds from the sale of a loan for a period after the sale. As a result, sale proceeds related to the sale of loans may not be available to make additional investments or to meet the Fund’s redemption obligations for a period after the sale of the loans, and, as a result, the Fund may have to sell other investments or engage in borrowing transactions, such as borrowing from its credit facility, if necessary to raise cash to meet its obligations.

Senior Loans hold the most senior position in the capital structure of a business entity, and are typically secured with specific collateral, but are nevertheless usually rated below investment grade. Because Second Lien Loans are subordinated or unsecured and thus lower in priority of payment to Senior Loans, they are subject to the additional risk that the cash flow of the borrower and property securing the loan or debt, if any, may be insufficient to meet scheduled payments after giving effect to the senior secured obligations of the borrower. Second Lien Loans generally have greater price volatility than Senior Loans and may be less liquid.

Management Risk.  A strategy used by the Investment Adviser may fail to produce the intended results.

Market Risk.  The value of the securities in which the Fund invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/or general economic conditions throughout the world due to increasingly interconnected global economies and financial markets.

Mortgage-Backed and Other Asset-Backed Securities Risk.  Mortgage-related and other asset-backed securities are subject to certain additional risks, including “extension risk” (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and “prepayment risk” (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Mortgage-backed securities offered by non-governmental issuers are subject to other risks as well, including failures of private insurers to meet their obligations and unexpectedly high rates of default on the mortgages backing the securities. Other asset-backed securities are subject to risks similar to those associated with Mortgage-backed securities, as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.

Municipal Securities Risk.  Municipal securities are subject to credit/default risk, interest rate risk and certain additional risks. The Fund may be more sensitive to adverse economic, business, political, environmental or other developments if it invests a substantial portion of its assets in the bonds of similar projects (such as those relating to education, health care, housing, transportation, and utilities), industrial development bonds, or in particular types of municipal securities (such as general obligation bonds, private activity bonds and moral obligation bonds). Generally, municipalities continue to experience difficulties in the current economic and political environment.

Non-Investment Grade Fixed Income Securities Risk.  Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as “junk bonds”) are considered speculative and are subject to the increased risk of an issuer’s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity.

Short Position Risk.  The Fund may enter into a short position through a futures contract, an option or swap agreement or through short sales of any instrument that the Fund may purchase for investment. Taking short positions involves leverage of the Fund’s assets and presents various risks. If the value of the underlying instrument or market in which the Fund has taken a short position increases, then the Fund will incur a loss equal to the increase in value from the time that the short position was entered into plus any related interest payments or other fees. Taking short positions involves the risk that losses may be disproportionate, may exceed the amount invested and may be unlimited.

Sovereign Default Risk.  An issuer of non-U.S. sovereign debt held by the Fund or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay the principal or interest when due. This may result from political or social factors, the general economic environment of a country or levels of foreign debt or foreign currency exchange rates.

U.S. Government Securities Risk.  The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by the Federal National Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including their legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future.
Risk Lose Money [Text] rr_RiskLoseMoney Loss of money is a risk of investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation ("FDIC") or any government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Investor, Class R, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund's Class A Shares from year to year; and (b) how the average annual total returns of the Fund's Class A, Class C, Institutional, Investor, Class R, Class R6 and Class T Shares compare to those of a broad-based securities market index.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess As of the date of the Prospectus, Class T Shares have not commenced operations.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.gsamfunds.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund's past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The bar chart (including "Best Quarter" and "Worst Quarter" information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The total return for Class A Shares for the six-month period ended
June 30, 2017 was 0.99%.

Best Quarter
Q3 ‘12              +5.26%

Worst Quarter
Q3 ‘11              –3.18%
Performance Table Heading rr_PerformanceTableHeading AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Performance Table Does Reflect Sales Loads rr_PerformanceTableDoesReflectSalesLoads Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor's tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Goldman Sachs Strategic Income Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 3.75%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.51%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.17%
Other Expenses rr_OtherExpensesOverAssets 0.17% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.93%
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 100,000
1 Year rr_ExpenseExampleYear01 466
3 Years rr_ExpenseExampleYear03 660
5 Years rr_ExpenseExampleYear05 870
10 Years rr_ExpenseExampleYear10 $ 1,475
2011 rr_AnnualReturn2011 (2.49%)
2012 rr_AnnualReturn2012 13.29%
2013 rr_AnnualReturn2013 6.07%
2014 rr_AnnualReturn2014 (0.84%)
2015 rr_AnnualReturn2015 (1.04%)
2016 rr_AnnualReturn2016 2.19%
Year to Date Return, Label rr_YearToDateReturnLabel total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 0.99%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2012
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 5.26%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (3.18%)
1 Year rr_AverageAnnualReturnYear01 (1.59%)
5 Years rr_AverageAnnualReturnYear05 2.73%
Since Inception rr_AverageAnnualReturnSinceInception 2.01%
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 30, 2010
Goldman Sachs Strategic Income Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Management Fees rr_ManagementFeesOverAssets 0.51%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
All Other Expenses rr_Component3OtherExpensesOverAssets 0.17%
Other Expenses rr_OtherExpensesOverAssets 0.42% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.68%
1 Year rr_ExpenseExampleYear01 $ 271
3 Years rr_ExpenseExampleYear03 530
5 Years rr_ExpenseExampleYear05 913
10 Years rr_ExpenseExampleYear10 1,987
1 Year rr_ExpenseExampleNoRedemptionYear01 171
3 Years rr_ExpenseExampleNoRedemptionYear03 530
5 Years rr_ExpenseExampleNoRedemptionYear05 913
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,987
1 Year rr_AverageAnnualReturnYear01 0.45%
5 Years rr_AverageAnnualReturnYear05 2.75%
Since Inception rr_AverageAnnualReturnSinceInception 1.85%
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 30, 2010
Goldman Sachs Strategic Income Fund | Institutional  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.51%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.08%
Other Expenses rr_OtherExpensesOverAssets 0.08% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.59%
1 Year rr_ExpenseExampleYear01 $ 60
3 Years rr_ExpenseExampleYear03 189
5 Years rr_ExpenseExampleYear05 329
10 Years rr_ExpenseExampleYear10 $ 738
1 Year rr_AverageAnnualReturnYear01 2.53%
5 Years rr_AverageAnnualReturnYear05 3.87%
Since Inception rr_AverageAnnualReturnSinceInception 2.96%
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 30, 2010
Goldman Sachs Strategic Income Fund | Investor  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.51%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.17%
Other Expenses rr_OtherExpensesOverAssets 0.17% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.68%
1 Year rr_ExpenseExampleYear01 $ 69
3 Years rr_ExpenseExampleYear03 218
5 Years rr_ExpenseExampleYear05 379
10 Years rr_ExpenseExampleYear10 $ 847
1 Year rr_AverageAnnualReturnYear01 2.34%
5 Years rr_AverageAnnualReturnYear05 3.78%
Since Inception rr_AverageAnnualReturnSinceInception 2.85%
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 30, 2010
Goldman Sachs Strategic Income Fund | Class R  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.51%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.17%
Other Expenses rr_OtherExpensesOverAssets 0.17% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.18%
1 Year rr_ExpenseExampleYear01 $ 120
3 Years rr_ExpenseExampleYear03 375
5 Years rr_ExpenseExampleYear05 649
10 Years rr_ExpenseExampleYear10 $ 1,432
1 Year rr_AverageAnnualReturnYear01 1.94%
5 Years rr_AverageAnnualReturnYear05 3.27%
Since Inception rr_AverageAnnualReturnSinceInception 2.35%
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 30, 2010
Goldman Sachs Strategic Income Fund | Class R6  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.51%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.07%
Other Expenses rr_OtherExpensesOverAssets 0.07% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.58%
1 Year rr_ExpenseExampleYear01 $ 59
3 Years rr_ExpenseExampleYear03 186
5 Years rr_ExpenseExampleYear05 324
10 Years rr_ExpenseExampleYear10 $ 726
1 Year rr_AverageAnnualReturnYear01 2.56% [3]
5 Years rr_AverageAnnualReturnYear05 3.87% [3]
Since Inception rr_AverageAnnualReturnSinceInception 2.96% [3]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [3]
Goldman Sachs Strategic Income Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.51%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.17%
Other Expenses rr_OtherExpensesOverAssets 0.17% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.93%
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
1 Year rr_ExpenseExampleYear01 343
3 Years rr_ExpenseExampleYear03 539
5 Years rr_ExpenseExampleYear05 752
10 Years rr_ExpenseExampleYear10 $ 1,364
1 Year rr_AverageAnnualReturnYear01 (1.59%) [4]
5 Years rr_AverageAnnualReturnYear05 2.73% [4]
Since Inception rr_AverageAnnualReturnSinceInception 2.01% [4]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [4]
Goldman Sachs Strategic Income Fund | Returns After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (2.42%)
5 Years rr_AverageAnnualReturnYear05 1.41%
Since Inception rr_AverageAnnualReturnSinceInception 0.75%
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 30, 2010
Goldman Sachs Strategic Income Fund | Returns After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (0.91%)
5 Years rr_AverageAnnualReturnYear05 1.53%
Since Inception rr_AverageAnnualReturnSinceInception 1.02%
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 30, 2010
Goldman Sachs Strategic Income Fund | Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index (reflects no deduction for fees or expenses) | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.66%
5 Years rr_AverageAnnualReturnYear05 0.39%
Since Inception rr_AverageAnnualReturnSinceInception 0.38%
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 30, 2010
Goldman Sachs Strategic Income Fund | Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index (reflects no deduction for fees or expenses) | Class C  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.66%
5 Years rr_AverageAnnualReturnYear05 0.39%
Since Inception rr_AverageAnnualReturnSinceInception 0.38%
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 30, 2010
Goldman Sachs Strategic Income Fund | Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index (reflects no deduction for fees or expenses) | Institutional  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.66%
5 Years rr_AverageAnnualReturnYear05 0.39%
Since Inception rr_AverageAnnualReturnSinceInception 0.38%
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 30, 2010
Goldman Sachs Strategic Income Fund | Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index (reflects no deduction for fees or expenses) | Investor  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.66%
5 Years rr_AverageAnnualReturnYear05 0.39%
Since Inception rr_AverageAnnualReturnSinceInception 0.38%
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 30, 2010
Goldman Sachs Strategic Income Fund | Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index (reflects no deduction for fees or expenses) | Class R  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.66%
5 Years rr_AverageAnnualReturnYear05 0.39%
Since Inception rr_AverageAnnualReturnSinceInception 0.38%
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 30, 2010
Goldman Sachs Strategic Income Fund | Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index (reflects no deduction for fees or expenses) | Class R6  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.66% [3]
5 Years rr_AverageAnnualReturnYear05 0.39% [3]
Since Inception rr_AverageAnnualReturnSinceInception 0.38% [3]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [3]
Goldman Sachs Strategic Income Fund | Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index (reflects no deduction for fees or expenses) | Class T  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.66% [4]
5 Years rr_AverageAnnualReturnYear05 0.39% [4]
Since Inception rr_AverageAnnualReturnSinceInception 0.38% [4]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [4]
[1] A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase.
[2] The "Other Expenses" for Class R6 Shares have been restated and the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[3] Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of Class R6 Shares shown in the table above is that of Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses.
[4] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
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Goldman Sachs Enhanced Income Fund
Goldman Sachs Enhanced Income Fund—Summary
Investment Objective
The Goldman Sachs Enhanced Income Fund (the “Fund”) seeks to generate return in excess of traditional money market products while maintaining an emphasis on preservation of capital and liquidity.
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $500,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 59 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 63 and in “Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts” on page 106 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees
(fees paid directly from your investment):
Shareholder Fees - Goldman Sachs Enhanced Income Fund
Class A
Institutional
Administration
Investor
Class R6
Class T
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 1.50% none none none none 2.50%
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment):
Annual Fund Operating Expenses - Goldman Sachs Enhanced Income Fund
Class A
Institutional
Administration
Investor
Class R6
Class T
Management Fees 0.25% 0.25% 0.25% 0.25% 0.25% 0.25%
Distribution and/or Service (12b-1) Fees 0.25% none none none none 0.25%
Other Expenses [1] 0.20% 0.11% 0.36% 0.20% 0.10% 0.20%
Administration Fees none none 0.25% none none none
All Other Expenses 0.20% 0.11% 0.11% 0.20% 0.10% 0.20%
Total Annual Fund Operating Expenses 0.70% 0.36% 0.61% 0.45% 0.35% 0.70%
Fee Waiver and Expense Limitation [2] (0.01%) (0.01%) (0.01%) (0.01%) (0.01%) (0.01%)
Total Annual Fund Operating Expenses [3] 0.69% 0.35% 0.60% 0.44% 0.34% 0.69%
[1] The "Other Expenses" for Class R6 Shares have been restated and the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[2] The Investment Adviser has agreed to: (i) waive a portion of its management fee payable by the Fund in an amount equal to any management fees it earns as an investment adviser to any of the affiliated funds in which the Fund invests; and (ii) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, administration fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.064% of the Fund's average daily net assets. These arrangements will remain in effect through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangements without the approval of the Board of Trustees.
[3] After Fee Waiver and Expense Limitation
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Institutional, Administration, Investor, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Institutional, Administration, Investor, Class R6 and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example - Goldman Sachs Enhanced Income Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A Shares 219 370 533 1,007
Institutional Shares 36 115 201 455
Administration Shares 61 194 339 761
Investor Shares 45 143 251 566
Class R6 Shares 35 111 196 442
Class T Shares 319 467 629 1,098
Portfolio Turnover
The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 89% of the average value of its portfolio.
Principal Strategy
The Fund invests, under normal circumstances, primarily in a portfolio of U.S. dollar-denominated fixed income securities, including non-mortgage securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises (“U.S. Government Securities”), corporate notes, commercial paper and fixed and floating rate asset-backed securities and foreign securities. Except for asset-backed securities and Treasury Securities deliverable into futures transactions, the Fund will not invest in securities with remaining maturities of more than 5 years as determined in accordance with the SAI. With respect to asset-backed securities, the Fund will not invest in asset-backed securities with a weighted average life of more than 5 years. The Fund may invest across a broad range of high-grade fixed income sectors with an emphasis on the preservation of capital and liquidity. In pursuing the Fund’s investment objective, the Investment Adviser will seek to enhance the Fund’s return by identifying those high grade fixed income securities that are within the maturity limitations discussed above and that the Investment Adviser believes offer advantageous yields relative to other similar securities. The Fund also intends to invest in derivatives, including (but not limited to) interest rate futures, options, interest rate swaps and credit default swaps, which are used primarily to hedge the Fund’s portfolio risks, manage the Fund’s duration and/or gain exposure to certain fixed income securities.

The Fund’s investments must be rated at least BBB by a nationally recognized statistical rating organization (“NRSRO”) at the time of purchase, or, if unrated, must be determined by the Investment Adviser to be of comparable credit quality. The fund’s target duration range under normal interest rate conditions is expected to be approximately 9 months plus or minus 1 year, and over the past five years ended June 30, 2017, the duration of the Goldman Sachs Enhanced Income Fund Composite Index has ranged between 0.67 to 0.76 years. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

The Fund’s benchmark index is the Goldman Sachs Enhanced Income Fund Composite Index, which is comprised of the Bank of America Merrill Lynch Six-Month U.S. Treasury Bill Index (50%) and the Bank of America Merrill Lynch One-Year U.S. Treasury Note Index (50%).

Goldman Sachs’ Fixed Income Investing Philosophy:

Global fixed income markets are constantly evolving and are highly diverse—with a large number of countries, currencies, sectors, issuers and securities. We believe that inefficiencies in these complex markets cause bond prices to diverge from their fair value. To capitalize on these inefficiencies and generate consistent risk-adjusted performance, we believe it is critical to:
  • Thoughtfully combine diversified sources of return by employing multiple strategies
  • Take a global perspective to uncover relative value opportunities
  • Employ focused specialist teams to identify short-term mis-pricings and incorporate long-term views
  • Emphasize a risk-aware approach as we view risk management as both an offensive and defensive tool
  • Build a strong team of skilled investors who excel on behalf of our clients
Principal Risks of the Fund
Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.

Asset-Backed Securities Risk.  Asset-backed securities are subject to certain additional risks, including “extension risk” (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and “prepayment risk” (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Asset-backed securities are subject to risks similar to those associated with mortgage-backed securities (e.g., failures of private insurers to meet their obligations and unexpectedly high rates of default on the assets backing the securities), as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.

Credit/Default Risk.  An issuer or guarantor of fixed income securities or instruments held by the Fund may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant deterioration in net asset value (“NAV”).

Derivatives Risk.  The Fund's use of options, futures, swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the Securities and Exchange Commission ("SEC") proposed new regulations relating to a mutual fund's use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact a Fund's ability to invest in derivatives and other instruments and adversely affect such Fund's performance and ability to pursue its investment objectives.

Foreign Risk.  Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls, sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. In addition, the Fund will be subject to the risk that an issuer of non-U.S. sovereign debt or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay the principal or interest when due.

Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund's investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.

Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.

U.S. Government Securities Risk.  The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by those agencies, instrumentalities and government sponsored enterprises, including those issued by the Federal National Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including any legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future.
Performance
The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Institutional, Administration, Investor, Class R6 and Class T Shares compare to those of certain broad-based securities market indices and to the Goldman Sachs Enhanced Income Fund Composite Index, a custom benchmark comprised of the Bank of America Merrill Lynch Six-Month U.S. Treasury Bill Index (50%) and the Bank of America Merrill Lynch One-Year U.S. Treasury Note Index (50%). The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart
The total return for Class A Shares for the six-month period ended
June 30, 2017 was 0.52%.

Best Quarter
Q2 ‘09              +1.92%

Worst Quarter
Q3 ‘08              –0.68%
AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Average Annual Total Returns - Goldman Sachs Enhanced Income Fund
1 Year
5 Years
10 Years
Since Inception
Inception Date
Class A Shares (0.23%) 0.15% 0.99% 1.90% Aug. 02, 2000
Class A Shares | Returns After Taxes on Distributions (0.54%) (0.04%) 0.46% 1.04% Aug. 02, 2000
Class A Shares | Returns After Taxes on Distributions and Sale of Fund Shares (0.13%) 0.03% 0.57% 1.14% Aug. 02, 2000
Class A Shares | Bank of America Merrill Lynch Six-Month U.S. Treasury Bill Index (reflects no deduction for fees or expenses) 0.67% 0.27% 1.16% 1.96% Aug. 02, 2000
Class A Shares | Bank of America Merrill Lynch One-Year U.S. Treasury Note Index (reflects no deduction for fees or expenses) 0.75% 0.32% 1.43% 2.19% Aug. 02, 2000
Class A Shares | Goldman Sachs Enhanced Income Fund Composite Index 0.71% 0.29% 1.29% 2.11% Aug. 02, 2000
Institutional Shares 1.59% 0.78% 1.50% 2.36% Aug. 02, 2000
Institutional Shares | Bank of America Merrill Lynch Six-Month U.S. Treasury Bill Index (reflects no deduction for fees or expenses) 0.67% 0.27% 1.16% 1.96% Aug. 02, 2000
Institutional Shares | Bank of America Merrill Lynch One-Year U.S. Treasury Note Index (reflects no deduction for fees or expenses) 0.75% 0.32% 1.43% 2.19% Aug. 02, 2000
Institutional Shares | Goldman Sachs Enhanced Income Fund Composite Index 0.71% 0.29% 1.29% 2.11% Aug. 02, 2000
Administration Shares 1.34% 0.53% 1.28% 2.12% Aug. 02, 2000
Administration Shares | Bank of America Merrill Lynch Six-Month U.S. Treasury Bill Index (reflects no deduction for fees or expenses) 0.67% 0.27% 1.16% 1.96% Aug. 02, 2000
Administration Shares | Bank of America Merrill Lynch One-Year U.S. Treasury Note Index (reflects no deduction for fees or expenses) 0.75% 0.32% 1.43% 2.19% Aug. 02, 2000
Administration Shares | Goldman Sachs Enhanced Income Fund Composite Index 0.71% 0.29% 1.29% 2.11% Aug. 02, 2000
Investor Shares 1.40% 0.67% 0.50% Jul. 30, 2010
Investor Shares | Bank of America Merrill Lynch Six-Month U.S. Treasury Bill Index (reflects no deduction for fees or expenses) 0.67% 0.27% 0.28% Jul. 30, 2010
Investor Shares | Bank of America Merrill Lynch One-Year U.S. Treasury Note Index (reflects no deduction for fees or expenses) 0.75% 0.32% 0.37% Jul. 30, 2010
Investor Shares | Goldman Sachs Enhanced Income Fund Composite Index 0.71% 0.29% 0.32% Jul. 30, 2010
Class R6 Shares [1] 1.50% 0.78% 1.50% 2.36% Jul. 31, 2015
Class R6 Shares | Bank of America Merrill Lynch Six-Month U.S. Treasury Bill Index (reflects no deduction for fees or expenses) [1] 0.67% 0.27% 1.16% 1.96% Jul. 31, 2015
Class R6 Shares | Bank of America Merrill Lynch One-Year U.S. Treasury Note Index (reflects no deduction for fees or expenses) [1] 0.75% 0.32% 1.43% 2.19% Jul. 31, 2015
Class R6 Shares | Goldman Sachs Enhanced Income Fund Composite Index [1] 0.71% 0.29% 1.29% 2.11% Jul. 31, 2015
Class T Shares [2] (1.27%) (0.06%) 0.89% 1.84% Jul. 28, 2017
Class T Shares | Bank of America Merrill Lynch Six-Month U.S. Treasury Bill Index (reflects no deduction for fees or expenses) [2] 0.67% 0.27% 1.16% 1.96% Jul. 28, 2017
Class T Shares | Bank of America Merrill Lynch One-Year U.S. Treasury Note Index (reflects no deduction for fees or expenses) [2] 0.75% 0.32% 1.43% 2.19% Jul. 28, 2017
Class T Shares | Goldman Sachs Enhanced Income Fund Composite Index [2] 0.71% 0.29% 1.29% 2.11% Jul. 28, 2017
[1] Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of the Class R6 Shares shown in the table above is that of the Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses.
[2] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has been adjusted to reflect the higher maximum sales charge (load) imposed on purchases of Class T Shares. Class A Shares had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class A Shares impose a lower maximum sales charge (load) on purchases.
The after-tax returns are for Class A Shares only. The after-tax returns for Institutional, Administration, Investor and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

XML 55 R118.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName GOLDMAN SACHS TRUST
Prospectus Date rr_ProspectusDate Jul. 28, 2017
Goldman Sachs Enhanced Income Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Goldman Sachs Enhanced Income Fund—Summary
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Goldman Sachs Enhanced Income Fund (the “Fund”) seeks to generate return in excess of traditional money market products while maintaining an emphasis on preservation of capital and liquidity.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $500,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 59 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 63 and in “Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts” on page 106 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees
(fees paid directly from your investment):
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment):
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination July 28, 2018
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 89% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 89.00%
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $500,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 59 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 63 and in “Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts” on page 106 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent The "Other Expenses" for Class R6 Shares have been restated
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Institutional, Administration, Investor, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Institutional, Administration, Investor, Class R6 and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading Principal Strategy
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund invests, under normal circumstances, primarily in a portfolio of U.S. dollar-denominated fixed income securities, including non-mortgage securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises (“U.S. Government Securities”), corporate notes, commercial paper and fixed and floating rate asset-backed securities and foreign securities. Except for asset-backed securities and Treasury Securities deliverable into futures transactions, the Fund will not invest in securities with remaining maturities of more than 5 years as determined in accordance with the SAI. With respect to asset-backed securities, the Fund will not invest in asset-backed securities with a weighted average life of more than 5 years. The Fund may invest across a broad range of high-grade fixed income sectors with an emphasis on the preservation of capital and liquidity. In pursuing the Fund’s investment objective, the Investment Adviser will seek to enhance the Fund’s return by identifying those high grade fixed income securities that are within the maturity limitations discussed above and that the Investment Adviser believes offer advantageous yields relative to other similar securities. The Fund also intends to invest in derivatives, including (but not limited to) interest rate futures, options, interest rate swaps and credit default swaps, which are used primarily to hedge the Fund’s portfolio risks, manage the Fund’s duration and/or gain exposure to certain fixed income securities.

The Fund’s investments must be rated at least BBB by a nationally recognized statistical rating organization (“NRSRO”) at the time of purchase, or, if unrated, must be determined by the Investment Adviser to be of comparable credit quality. The fund’s target duration range under normal interest rate conditions is expected to be approximately 9 months plus or minus 1 year, and over the past five years ended June 30, 2017, the duration of the Goldman Sachs Enhanced Income Fund Composite Index has ranged between 0.67 to 0.76 years. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

The Fund’s benchmark index is the Goldman Sachs Enhanced Income Fund Composite Index, which is comprised of the Bank of America Merrill Lynch Six-Month U.S. Treasury Bill Index (50%) and the Bank of America Merrill Lynch One-Year U.S. Treasury Note Index (50%).

Goldman Sachs’ Fixed Income Investing Philosophy:

Global fixed income markets are constantly evolving and are highly diverse—with a large number of countries, currencies, sectors, issuers and securities. We believe that inefficiencies in these complex markets cause bond prices to diverge from their fair value. To capitalize on these inefficiencies and generate consistent risk-adjusted performance, we believe it is critical to:
  • Thoughtfully combine diversified sources of return by employing multiple strategies
  • Take a global perspective to uncover relative value opportunities
  • Employ focused specialist teams to identify short-term mis-pricings and incorporate long-term views
  • Emphasize a risk-aware approach as we view risk management as both an offensive and defensive tool
  • Build a strong team of skilled investors who excel on behalf of our clients
Risk [Heading] rr_RiskHeading Principal Risks of the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.

Asset-Backed Securities Risk.  Asset-backed securities are subject to certain additional risks, including “extension risk” (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and “prepayment risk” (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Asset-backed securities are subject to risks similar to those associated with mortgage-backed securities (e.g., failures of private insurers to meet their obligations and unexpectedly high rates of default on the assets backing the securities), as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.

Credit/Default Risk.  An issuer or guarantor of fixed income securities or instruments held by the Fund may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant deterioration in net asset value (“NAV”).

Derivatives Risk.  The Fund's use of options, futures, swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the Securities and Exchange Commission ("SEC") proposed new regulations relating to a mutual fund's use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact a Fund's ability to invest in derivatives and other instruments and adversely affect such Fund's performance and ability to pursue its investment objectives.

Foreign Risk.  Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls, sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. In addition, the Fund will be subject to the risk that an issuer of non-U.S. sovereign debt or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay the principal or interest when due.

Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund's investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.

Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.

U.S. Government Securities Risk.  The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by those agencies, instrumentalities and government sponsored enterprises, including those issued by the Federal National Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including any legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future.
Risk Lose Money [Text] rr_RiskLoseMoney Loss of money is a risk of investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation ("FDIC") or any government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Institutional, Administration, Investor, Class R6 and Class T Shares compare to those of certain broad-based securities market indices and to the Goldman Sachs Enhanced Income Fund Composite Index, a custom benchmark comprised of the Bank of America Merrill Lynch Six-Month U.S. Treasury Bill Index (50%) and the Bank of America Merrill Lynch One-Year U.S. Treasury Note Index (50%). The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund's Class A Shares from year to year; and (b) how the average annual total returns of the Fund's Class A, Institutional, Administration, Investor, Class R6 and Class T Shares compare to those of certain broad-based securities market indices and to the Goldman Sachs Enhanced Income Fund Composite Index, a custom benchmark comprised of the Bank of America Merrill Lynch Six-Month U.S. Treasury Bill Index (50%) and the Bank of America Merrill Lynch One-Year U.S. Treasury Note Index (50%).
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess As of the date of the Prospectus, Class T Shares have not commenced operations.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.gsamfunds.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund's past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The bar chart (including "Best Quarter" and "Worst Quarter" information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The total return for Class A Shares for the six-month period ended
June 30, 2017 was 0.52%.

Best Quarter
Q2 ‘09              +1.92%

Worst Quarter
Q3 ‘08              –0.68%
Performance Table Heading rr_PerformanceTableHeading AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Performance Table Does Reflect Sales Loads rr_PerformanceTableDoesReflectSalesLoads Performance has been adjusted to reflect the higher maximum sales charge (load) imposed on purchases of Class T Shares. Class A Shares had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class A Shares impose a lower maximum sales charge (load) on purchases.
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor's tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown The after-tax returns are for Class A Shares only. The after-tax returns for Institutional, Administration, Investor and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The after-tax returns are for Class A Shares only. The after-tax returns for Institutional, Administration, Investor and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Goldman Sachs Enhanced Income Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 1.50%
Management Fees rr_ManagementFeesOverAssets 0.25%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.20%
Other Expenses rr_OtherExpensesOverAssets 0.20% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.70%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.01%) [2]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.69% [3]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 500,000
1 Year rr_ExpenseExampleYear01 219
3 Years rr_ExpenseExampleYear03 370
5 Years rr_ExpenseExampleYear05 533
10 Years rr_ExpenseExampleYear10 $ 1,007
2007 rr_AnnualReturn2007 4.06%
2008 rr_AnnualReturn2008 1.10%
2009 rr_AnnualReturn2009 4.47%
2010 rr_AnnualReturn2010 0.43%
2011 rr_AnnualReturn2011 (0.73%)
2012 rr_AnnualReturn2012 1.29%
2013 rr_AnnualReturn2013 0.25%
2014 rr_AnnualReturn2014 (0.37%)
2015 rr_AnnualReturn2015 (0.20%)
2016 rr_AnnualReturn2016 1.25%
Year to Date Return, Label rr_YearToDateReturnLabel total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 0.52%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 1.92%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (0.68%)
1 Year rr_AverageAnnualReturnYear01 (0.23%)
5 Years rr_AverageAnnualReturnYear05 0.15%
10 Years rr_AverageAnnualReturnYear10 0.99%
Since Inception rr_AverageAnnualReturnSinceInception 1.90%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 02, 2000
Goldman Sachs Enhanced Income Fund | Institutional  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Management Fees rr_ManagementFeesOverAssets 0.25%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.11%
Other Expenses rr_OtherExpensesOverAssets 0.11% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.36%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.01%) [2]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.35% [3]
1 Year rr_ExpenseExampleYear01 $ 36
3 Years rr_ExpenseExampleYear03 115
5 Years rr_ExpenseExampleYear05 201
10 Years rr_ExpenseExampleYear10 $ 455
1 Year rr_AverageAnnualReturnYear01 1.59%
5 Years rr_AverageAnnualReturnYear05 0.78%
10 Years rr_AverageAnnualReturnYear10 1.50%
Since Inception rr_AverageAnnualReturnSinceInception 2.36%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 02, 2000
Goldman Sachs Enhanced Income Fund | Administration  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Management Fees rr_ManagementFeesOverAssets 0.25%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Administration Fees rr_Component2OtherExpensesOverAssets 0.25%
All Other Expenses rr_Component3OtherExpensesOverAssets 0.11%
Other Expenses rr_OtherExpensesOverAssets 0.36% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.61%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.01%) [2]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.60% [3]
1 Year rr_ExpenseExampleYear01 $ 61
3 Years rr_ExpenseExampleYear03 194
5 Years rr_ExpenseExampleYear05 339
10 Years rr_ExpenseExampleYear10 $ 761
1 Year rr_AverageAnnualReturnYear01 1.34%
5 Years rr_AverageAnnualReturnYear05 0.53%
10 Years rr_AverageAnnualReturnYear10 1.28%
Since Inception rr_AverageAnnualReturnSinceInception 2.12%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 02, 2000
Goldman Sachs Enhanced Income Fund | Investor  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Management Fees rr_ManagementFeesOverAssets 0.25%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.20%
Other Expenses rr_OtherExpensesOverAssets 0.20% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.45%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.01%) [2]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.44% [3]
1 Year rr_ExpenseExampleYear01 $ 45
3 Years rr_ExpenseExampleYear03 143
5 Years rr_ExpenseExampleYear05 251
10 Years rr_ExpenseExampleYear10 $ 566
1 Year rr_AverageAnnualReturnYear01 1.40%
5 Years rr_AverageAnnualReturnYear05 0.67%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 0.50%
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 30, 2010
Goldman Sachs Enhanced Income Fund | Class R6  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Management Fees rr_ManagementFeesOverAssets 0.25%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.10%
Other Expenses rr_OtherExpensesOverAssets 0.10% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.35%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.01%) [2]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.34% [3]
1 Year rr_ExpenseExampleYear01 $ 35
3 Years rr_ExpenseExampleYear03 111
5 Years rr_ExpenseExampleYear05 196
10 Years rr_ExpenseExampleYear10 $ 442
1 Year rr_AverageAnnualReturnYear01 1.50% [4]
5 Years rr_AverageAnnualReturnYear05 0.78% [4]
10 Years rr_AverageAnnualReturnYear10 1.50% [4]
Since Inception rr_AverageAnnualReturnSinceInception 2.36% [4]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [4]
Goldman Sachs Enhanced Income Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Management Fees rr_ManagementFeesOverAssets 0.25%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.20%
Other Expenses rr_OtherExpensesOverAssets 0.20% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.70%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.01%) [2]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.69% [3]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
1 Year rr_ExpenseExampleYear01 319
3 Years rr_ExpenseExampleYear03 467
5 Years rr_ExpenseExampleYear05 629
10 Years rr_ExpenseExampleYear10 $ 1,098
1 Year rr_AverageAnnualReturnYear01 (1.27%) [5]
5 Years rr_AverageAnnualReturnYear05 (0.06%) [5]
10 Years rr_AverageAnnualReturnYear10 0.89% [5]
Since Inception rr_AverageAnnualReturnSinceInception 1.84% [5]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [5]
Goldman Sachs Enhanced Income Fund | Returns After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (0.54%)
5 Years rr_AverageAnnualReturnYear05 (0.04%)
10 Years rr_AverageAnnualReturnYear10 0.46%
Since Inception rr_AverageAnnualReturnSinceInception 1.04%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 02, 2000
Goldman Sachs Enhanced Income Fund | Returns After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (0.13%)
5 Years rr_AverageAnnualReturnYear05 0.03%
10 Years rr_AverageAnnualReturnYear10 0.57%
Since Inception rr_AverageAnnualReturnSinceInception 1.14%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 02, 2000
Goldman Sachs Enhanced Income Fund | Bank of America Merrill Lynch Six-Month U.S. Treasury Bill Index (reflects no deduction for fees or expenses) | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.67%
5 Years rr_AverageAnnualReturnYear05 0.27%
10 Years rr_AverageAnnualReturnYear10 1.16%
Since Inception rr_AverageAnnualReturnSinceInception 1.96%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 02, 2000
Goldman Sachs Enhanced Income Fund | Bank of America Merrill Lynch Six-Month U.S. Treasury Bill Index (reflects no deduction for fees or expenses) | Institutional  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.67%
5 Years rr_AverageAnnualReturnYear05 0.27%
10 Years rr_AverageAnnualReturnYear10 1.16%
Since Inception rr_AverageAnnualReturnSinceInception 1.96%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 02, 2000
Goldman Sachs Enhanced Income Fund | Bank of America Merrill Lynch Six-Month U.S. Treasury Bill Index (reflects no deduction for fees or expenses) | Administration  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.67%
5 Years rr_AverageAnnualReturnYear05 0.27%
10 Years rr_AverageAnnualReturnYear10 1.16%
Since Inception rr_AverageAnnualReturnSinceInception 1.96%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 02, 2000
Goldman Sachs Enhanced Income Fund | Bank of America Merrill Lynch Six-Month U.S. Treasury Bill Index (reflects no deduction for fees or expenses) | Investor  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.67%
5 Years rr_AverageAnnualReturnYear05 0.27%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 0.28%
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 30, 2010
Goldman Sachs Enhanced Income Fund | Bank of America Merrill Lynch Six-Month U.S. Treasury Bill Index (reflects no deduction for fees or expenses) | Class R6  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.67% [4]
5 Years rr_AverageAnnualReturnYear05 0.27% [4]
10 Years rr_AverageAnnualReturnYear10 1.16% [4]
Since Inception rr_AverageAnnualReturnSinceInception 1.96% [4]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [4]
Goldman Sachs Enhanced Income Fund | Bank of America Merrill Lynch Six-Month U.S. Treasury Bill Index (reflects no deduction for fees or expenses) | Class T  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.67% [5]
5 Years rr_AverageAnnualReturnYear05 0.27% [5]
10 Years rr_AverageAnnualReturnYear10 1.16% [5]
Since Inception rr_AverageAnnualReturnSinceInception 1.96% [5]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [5]
Goldman Sachs Enhanced Income Fund | Bank of America Merrill Lynch One-Year U.S. Treasury Note Index (reflects no deduction for fees or expenses) | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.75%
5 Years rr_AverageAnnualReturnYear05 0.32%
10 Years rr_AverageAnnualReturnYear10 1.43%
Since Inception rr_AverageAnnualReturnSinceInception 2.19%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 02, 2000
Goldman Sachs Enhanced Income Fund | Bank of America Merrill Lynch One-Year U.S. Treasury Note Index (reflects no deduction for fees or expenses) | Institutional  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.75%
5 Years rr_AverageAnnualReturnYear05 0.32%
10 Years rr_AverageAnnualReturnYear10 1.43%
Since Inception rr_AverageAnnualReturnSinceInception 2.19%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 02, 2000
Goldman Sachs Enhanced Income Fund | Bank of America Merrill Lynch One-Year U.S. Treasury Note Index (reflects no deduction for fees or expenses) | Administration  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.75%
5 Years rr_AverageAnnualReturnYear05 0.32%
10 Years rr_AverageAnnualReturnYear10 1.43%
Since Inception rr_AverageAnnualReturnSinceInception 2.19%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 02, 2000
Goldman Sachs Enhanced Income Fund | Bank of America Merrill Lynch One-Year U.S. Treasury Note Index (reflects no deduction for fees or expenses) | Investor  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.75%
5 Years rr_AverageAnnualReturnYear05 0.32%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 0.37%
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 30, 2010
Goldman Sachs Enhanced Income Fund | Bank of America Merrill Lynch One-Year U.S. Treasury Note Index (reflects no deduction for fees or expenses) | Class R6  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.75% [4]
5 Years rr_AverageAnnualReturnYear05 0.32% [4]
10 Years rr_AverageAnnualReturnYear10 1.43% [4]
Since Inception rr_AverageAnnualReturnSinceInception 2.19% [4]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [4]
Goldman Sachs Enhanced Income Fund | Bank of America Merrill Lynch One-Year U.S. Treasury Note Index (reflects no deduction for fees or expenses) | Class T  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.75% [5]
5 Years rr_AverageAnnualReturnYear05 0.32% [5]
10 Years rr_AverageAnnualReturnYear10 1.43% [5]
Since Inception rr_AverageAnnualReturnSinceInception 2.19% [5]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [5]
Goldman Sachs Enhanced Income Fund | Goldman Sachs Enhanced Income Fund Composite Index | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.71%
5 Years rr_AverageAnnualReturnYear05 0.29%
10 Years rr_AverageAnnualReturnYear10 1.29%
Since Inception rr_AverageAnnualReturnSinceInception 2.11%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 02, 2000
Goldman Sachs Enhanced Income Fund | Goldman Sachs Enhanced Income Fund Composite Index | Institutional  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.71%
5 Years rr_AverageAnnualReturnYear05 0.29%
10 Years rr_AverageAnnualReturnYear10 1.29%
Since Inception rr_AverageAnnualReturnSinceInception 2.11%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 02, 2000
Goldman Sachs Enhanced Income Fund | Goldman Sachs Enhanced Income Fund Composite Index | Administration  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.71%
5 Years rr_AverageAnnualReturnYear05 0.29%
10 Years rr_AverageAnnualReturnYear10 1.29%
Since Inception rr_AverageAnnualReturnSinceInception 2.11%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 02, 2000
Goldman Sachs Enhanced Income Fund | Goldman Sachs Enhanced Income Fund Composite Index | Investor  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.71%
5 Years rr_AverageAnnualReturnYear05 0.29%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 0.32%
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 30, 2010
Goldman Sachs Enhanced Income Fund | Goldman Sachs Enhanced Income Fund Composite Index | Class R6  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.71% [4]
5 Years rr_AverageAnnualReturnYear05 0.29% [4]
10 Years rr_AverageAnnualReturnYear10 1.29% [4]
Since Inception rr_AverageAnnualReturnSinceInception 2.11% [4]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [4]
Goldman Sachs Enhanced Income Fund | Goldman Sachs Enhanced Income Fund Composite Index | Class T  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.71% [5]
5 Years rr_AverageAnnualReturnYear05 0.29% [5]
10 Years rr_AverageAnnualReturnYear10 1.29% [5]
Since Inception rr_AverageAnnualReturnSinceInception 2.11% [5]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [5]
[1] The "Other Expenses" for Class R6 Shares have been restated and the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[2] The Investment Adviser has agreed to: (i) waive a portion of its management fee payable by the Fund in an amount equal to any management fees it earns as an investment adviser to any of the affiliated funds in which the Fund invests; and (ii) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, administration fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.064% of the Fund's average daily net assets. These arrangements will remain in effect through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangements without the approval of the Board of Trustees.
[3] After Fee Waiver and Expense Limitation
[4] Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of the Class R6 Shares shown in the table above is that of the Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses.
[5] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has been adjusted to reflect the higher maximum sales charge (load) imposed on purchases of Class T Shares. Class A Shares had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class A Shares impose a lower maximum sales charge (load) on purchases.
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Goldman Sachs High Quality Floating Rate Fund
Goldman Sachs High Quality Floating Rate Fund—Summary
Investment Objective
The Goldman Sachs High Quality Floating Rate Fund (the “Fund”) seeks to provide a high level of current income, consistent with low volatility of principal.
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $500,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 59 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 63 and in “Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts” on page 106 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees
(fees paid directly from your investment):
Shareholder Fees - Goldman Sachs High Quality Floating Rate Fund
Class A
Institutional
Service
Investor
Class R6
Class T
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 1.50% none none none none 2.50%
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment):
Annual Fund Operating Expenses - Goldman Sachs High Quality Floating Rate Fund
Class A
Institutional
Service
Investor
Class R6
Class T
Management Fees [1] 0.31% 0.31% 0.31% 0.31% 0.31% 0.31%
Distribution and/or Service (12b-1) Fees 0.25% none 0.25% none none 0.25%
Other Expenses [2] 0.24% 0.15% 0.40% 0.23% 0.12% 0.24%
Shareholder Administration Fees none none 0.25% none none none
All Other Expenses 0.24% 0.15% 0.15% 0.23% 0.12% 0.24%
Acquired Fund Fees and Expenses 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
Total Annual Fund Operating Expenses 0.81% 0.47% 0.97% 0.55% 0.44% 0.81%
Fee Waiver and Expense Limitation [3] (0.10%) (0.10%) (0.10%) (0.10%) (0.09%) (0.10%)
Total Annual Fund Operating Expenses [4] 0.71% 0.37% 0.87% 0.45% 0.35% 0.71%
[1] The Fund's "Management Fees" have been restated to reflect current fees.
[2] The "Other Expenses" for Class R6 Shares have been restated and the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[3] The Investment Adviser has agreed to: (i) waive a portion of its management fee payable by the Fund in an amount equal to any management fees it earns as an investment adviser to any of the affiliated funds in which the Fund invests; and (ii) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, shareholder administration fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.014% of the Fund's average daily net assets. These arrangements will remain in effect through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangements without the approval of the Board of Trustees.
[4] After Fee Waiver and Expense Limitation
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Institutional, Service, Investor, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Institutional, Service, Investor, Class R6 and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example - Goldman Sachs High Quality Floating Rate Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A Shares 221 395 583 1,127
Institutional Shares 38 141 253 582
Service Shares 89 299 527 1,181
Investor Shares 46 166 297 680
Class R6 Shares 36 132 237 546
Class T Shares 321 492 679 1,218
Portfolio Turnover
The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 59% of the average value of its portfolio.
Principal Strategy
The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in high quality floating rate or variable rate obligations. Floating rate and variable rate obligations are debt instruments issued by companies or other entities with interest rates that reset periodically (typically, daily, monthly, quarterly, or semi-annually) in response to changes in the market rate of interest on which the interest rate is based. The Fund considers “high quality” obligations to be (i) those rated AAA or Aaa by a nationally recognized statistical rating organization (“NRSRO”) at the time of purchase, or, if unrated, determined by the Investment Adviser to be of comparable credit quality, including repurchase agreements with counterparties rated AAA or Aaa by an NRSRO at the time of purchase, or, if unrated, determined by the Investment Adviser to be of comparable credit quality, and (ii) securities issued or guaranteed by the U.S. Government, its agencies, instrumentalities or sponsored enterprises (“U.S. Government Securities”), including securities representing an interest in or collateralized by adjustable rate and fixed rate mortgage loans or other mortgage-related securities (“Mortgage-Backed Securities”), and in repurchase agreements collateralized by U.S. Government Securities, with counterparties approved by the Investment Adviser pursuant to procedures approved by the Board of Trustees. The remainder of the Fund’s Net Assets (up to 20%) may be invested in fixed rate obligations (subject to the credit quality requirements specified above) and investment grade floating rate or variable rate obligations. The Fund also intends to invest in derivatives, including (but not limited to) futures, swaps, options on swaps and other derivative instruments, which are used primarily to manage the Fund’s duration. The Fund may invest in obligations of foreign issuers (including sovereign and agency obligations), although 100% of the Fund’s portfolio will be invested in U.S. dollar denominated securities.

The Fund’s investments in floating and variable rate obligations may include, without limitation: agency floating rate bonds and agency Mortgage-Backed Securities, including adjustable rate mortgages and collateralized mortgage obligation floaters; asset-backed floating rate bonds including, but not limited to, those backed by Federal Family Education Loan Program (“FFELP”) student loans and credit card receivables; other floating rate Mortgage-Backed Securities; collateralized loan obligations; corporate obligations; and overnight repurchase agreements.

The Fund’s target duration range under normal interest rate conditions is expected to approximate that of the Bank of America Merrill Lynch Three-Month U.S. Treasury Bill Index, plus or minus 3 months, and over the last five years ended June 30, 2017, the duration of the Index has ranged between 0.22 and 0.26 years. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

The Fund’s benchmark index is the Bank of America Merrill Lynch Three-Month U.S. Treasury Bill Index.

GSAM’s Fixed Income Investing Philosophy:

Global fixed income markets are constantly evolving and are highly diverse—with a large number of countries, currencies, sectors, issuers and securities. We believe that inefficiencies in these complex markets cause bond prices to diverge from their fair value. To capitalize on these inefficiencies and generate consistent risk-adjusted performance, we believe it is critical to:
  • Thoughtfully combine diversified sources of return by employing multiple strategies
  • Take a global perspective to uncover relative value opportunities
  • Employ focused specialist teams to identify short-term mis-pricings and incorporate long-term views
  • Emphasize a risk-aware approach as we view risk management as both an offensive and defensive tool
  • Build a strong team of skilled investors who excel on behalf of our clients
Principal Risks of the Fund
Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.

Call/Prepayment Risk.  An issuer could exercise its right to pay principal on an obligation held by the Fund (such as a Mortgage-Backed Security) earlier than expected. This may happen when there is a decline in interest rates, when credit spreads change, or when an issuer’s credit quality improves. Under these circumstances, the Fund may be unable to recoup all of its initial investment and will also suffer from having to reinvest in lower-yielding securities.

Derivatives Risk.  The Fund’s use of futures, swaps, options on swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the Securities and Exchange Commission (“SEC”) proposed new regulations relating to a mutual fund’s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact a Fund’s ability to invest in derivatives and other instruments and adversely affect such Fund’s performance and ability to pursue its investment objectives.

Floating and Variable Rate Obligations Risk.  For floating and variable rate obligations, there may be a lag between an actual change in the underlying interest rate benchmark and the reset time for an interest payment of such an obligation, which could harm or benefit the Fund, depending on the interest rate environment or other circumstances. In a rising interest rate environment, for example, a floating or variable rate obligation that does not reset immediately would prevent the Fund from taking full advantage of rising interest rates in a timely manner. However, in a declining interest rate environment, the Fund may benefit from a lag due to an obligation’s interest rate payment not being immediately impacted by a decline in interest rates.

Certain floating and variable rate obligations have an interest rate floor feature, which prevents the interest rate payable by the security from dropping below a specified level as compared to a reference interest rate (the “reference rate”), such as LIBOR. Such a floor protects the Fund from losses resulting from a decrease in the reference rate below the specified level. However, if the reference rate is below the floor, there will be a lag between a rise in the reference rate and a rise in the interest rate payable by the obligation, and the Fund may not benefit from increasing interest rates for a significant amount of time.

Foreign Risk.  Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls, sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. In addition, the Fund will be subject to the risk that an issuer of non-U.S. sovereign debt or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay the principal or interest when due.

Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.

Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.

Mortgage-Backed and/or Other Asset-Backed Securities Risk.  Mortgage-related and other asset-backed securities are subject to certain additional risks, including “extension risk” (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and “prepayment risk” (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Mortgage-Backed Securities offered by non-governmental issuers are subject to other risks as well, including failures of private insurers to meet their obligations and unexpectedly high rates of default on the mortgages backing the securities. Other asset-backed securities are subject to risks similar to those associated with Mortgage-Backed Securities, as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.

U.S. Government Securities Risk.  The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by those agencies, instrumentalities and government sponsored enterprises, including those issued by the Federal National Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including any legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future.
Performance
The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Institutional, Service, Investor, Class R6 and Class T Shares compare to those of a broad-based securities market index. Effective as of July 27, 2012, the Goldman Sachs Ultra-Short Duration Government Fund was renamed the Goldman Sachs High Quality Floating Rate Fund. Certain of the Fund’s investment strategies and policies were also changed. Performance information prior to this date reflects the Fund’s former investment strategies and policies. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart
The total return for Class A Shares for the six-month period ended
June 30, 2017 was 0.79%.

Best Quarter
Q2 ‘09              +1.69%

Worst Quarter
Q4 ‘08              –1.70%
AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Average Annual Total Returns - Goldman Sachs High Quality Floating Rate Fund
1 Year
5 Years
10 Years
Since Inception
Inception Date
Class A Shares (0.40%) (0.11%) 0.57% 2.56% May 15, 1995
Class A Shares | Returns After Taxes on Distributions (0.67%) (0.23%) 0.07% 1.36% May 15, 1995
Class A Shares | Returns After Taxes on Distributions and Sale of Fund Shares (0.23%) (0.14%) 0.26% 1.50% May 15, 1995
Class A Shares | Bank of America Merrill Lynch Three-Month U.S. Treasury Bill Index (reflects no deduction for fees or expenses) 0.33% 0.12% 0.80% 2.53% May 15, 1995
Institutional Shares 1.39% 0.48% 1.05% 3.25% Jul. 17, 1991
Institutional Shares | Bank of America Merrill Lynch Three-Month U.S. Treasury Bill Index (reflects no deduction for fees or expenses) 0.33% 0.12% 0.80% 2.80% Jul. 17, 1991
Service Shares 0.77% 0.03% 0.57% 2.16% Mar. 27, 1997
Service Shares | Bank of America Merrill Lynch Three-Month U.S. Treasury Bill Index (reflects no deduction for fees or expenses) 0.33% 0.12% 0.80% 2.25% Mar. 27, 1997
Investor Shares 1.30% 0.39% 0.55% Nov. 30, 2007
Investor Shares | Bank of America Merrill Lynch Three-Month U.S. Treasury Bill Index (reflects no deduction for fees or expenses) 0.33% 0.12% 0.37% Nov. 30, 2007
Class R6 Shares [1] 1.41% 0.49% 1.05% 3.25% Jul. 31, 2015
Class R6 Shares | Bank of America Merrill Lynch Three-Month U.S. Treasury Bill Index (reflects no deduction for fees or expenses) [1] 0.33% 0.12% 0.80% 2.80% Jul. 31, 2015
Class T Shares [2] (1.42%) (0.32%) 0.46% 2.51% Jul. 28, 2017
Class T Shares | Bank of America Merrill Lynch Three-Month U.S. Treasury Bill Index (reflects no deduction for fees or expenses) [2] 0.33% 0.12% 0.80% 2.53% Jul. 28, 2017
[1] Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of the Class R6 Shares shown in the table above is that of the Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses.
[2] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has been adjusted to reflect the higher maximum sales charge (load) imposed on purchases of Class T Shares. Class A Shares had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class A Shares impose a lower maximum sales charge (load) on purchases.
The after-tax returns are for Class A Shares only. The after-tax returns for Institutional, Service, Investor and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

XML 58 R125.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName GOLDMAN SACHS TRUST
Prospectus Date rr_ProspectusDate Jul. 28, 2017
Goldman Sachs High Quality Floating Rate Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Goldman Sachs High Quality Floating Rate Fund—Summary
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Goldman Sachs High Quality Floating Rate Fund (the “Fund”) seeks to provide a high level of current income, consistent with low volatility of principal.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $500,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 59 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 63 and in “Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts” on page 106 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees
(fees paid directly from your investment):
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment):
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination July 28, 2018
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 59% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 59.00%
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $500,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 59 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 63 and in “Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts” on page 106 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent The Fund's "Management Fees" have been restated to reflect current fees.

The "Other Expenses" for Class R6 Shares have been restated
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Institutional, Service, Investor, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Institutional, Service, Investor, Class R6 and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading Principal Strategy
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in high quality floating rate or variable rate obligations. Floating rate and variable rate obligations are debt instruments issued by companies or other entities with interest rates that reset periodically (typically, daily, monthly, quarterly, or semi-annually) in response to changes in the market rate of interest on which the interest rate is based. The Fund considers “high quality” obligations to be (i) those rated AAA or Aaa by a nationally recognized statistical rating organization (“NRSRO”) at the time of purchase, or, if unrated, determined by the Investment Adviser to be of comparable credit quality, including repurchase agreements with counterparties rated AAA or Aaa by an NRSRO at the time of purchase, or, if unrated, determined by the Investment Adviser to be of comparable credit quality, and (ii) securities issued or guaranteed by the U.S. Government, its agencies, instrumentalities or sponsored enterprises (“U.S. Government Securities”), including securities representing an interest in or collateralized by adjustable rate and fixed rate mortgage loans or other mortgage-related securities (“Mortgage-Backed Securities”), and in repurchase agreements collateralized by U.S. Government Securities, with counterparties approved by the Investment Adviser pursuant to procedures approved by the Board of Trustees. The remainder of the Fund’s Net Assets (up to 20%) may be invested in fixed rate obligations (subject to the credit quality requirements specified above) and investment grade floating rate or variable rate obligations. The Fund also intends to invest in derivatives, including (but not limited to) futures, swaps, options on swaps and other derivative instruments, which are used primarily to manage the Fund’s duration. The Fund may invest in obligations of foreign issuers (including sovereign and agency obligations), although 100% of the Fund’s portfolio will be invested in U.S. dollar denominated securities.

The Fund’s investments in floating and variable rate obligations may include, without limitation: agency floating rate bonds and agency Mortgage-Backed Securities, including adjustable rate mortgages and collateralized mortgage obligation floaters; asset-backed floating rate bonds including, but not limited to, those backed by Federal Family Education Loan Program (“FFELP”) student loans and credit card receivables; other floating rate Mortgage-Backed Securities; collateralized loan obligations; corporate obligations; and overnight repurchase agreements.

The Fund’s target duration range under normal interest rate conditions is expected to approximate that of the Bank of America Merrill Lynch Three-Month U.S. Treasury Bill Index, plus or minus 3 months, and over the last five years ended June 30, 2017, the duration of the Index has ranged between 0.22 and 0.26 years. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

The Fund’s benchmark index is the Bank of America Merrill Lynch Three-Month U.S. Treasury Bill Index.

GSAM’s Fixed Income Investing Philosophy:

Global fixed income markets are constantly evolving and are highly diverse—with a large number of countries, currencies, sectors, issuers and securities. We believe that inefficiencies in these complex markets cause bond prices to diverge from their fair value. To capitalize on these inefficiencies and generate consistent risk-adjusted performance, we believe it is critical to:
  • Thoughtfully combine diversified sources of return by employing multiple strategies
  • Take a global perspective to uncover relative value opportunities
  • Employ focused specialist teams to identify short-term mis-pricings and incorporate long-term views
  • Emphasize a risk-aware approach as we view risk management as both an offensive and defensive tool
  • Build a strong team of skilled investors who excel on behalf of our clients
Risk [Heading] rr_RiskHeading Principal Risks of the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.

Call/Prepayment Risk.  An issuer could exercise its right to pay principal on an obligation held by the Fund (such as a Mortgage-Backed Security) earlier than expected. This may happen when there is a decline in interest rates, when credit spreads change, or when an issuer’s credit quality improves. Under these circumstances, the Fund may be unable to recoup all of its initial investment and will also suffer from having to reinvest in lower-yielding securities.

Derivatives Risk.  The Fund’s use of futures, swaps, options on swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the Securities and Exchange Commission (“SEC”) proposed new regulations relating to a mutual fund’s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact a Fund’s ability to invest in derivatives and other instruments and adversely affect such Fund’s performance and ability to pursue its investment objectives.

Floating and Variable Rate Obligations Risk.  For floating and variable rate obligations, there may be a lag between an actual change in the underlying interest rate benchmark and the reset time for an interest payment of such an obligation, which could harm or benefit the Fund, depending on the interest rate environment or other circumstances. In a rising interest rate environment, for example, a floating or variable rate obligation that does not reset immediately would prevent the Fund from taking full advantage of rising interest rates in a timely manner. However, in a declining interest rate environment, the Fund may benefit from a lag due to an obligation’s interest rate payment not being immediately impacted by a decline in interest rates.

Certain floating and variable rate obligations have an interest rate floor feature, which prevents the interest rate payable by the security from dropping below a specified level as compared to a reference interest rate (the “reference rate”), such as LIBOR. Such a floor protects the Fund from losses resulting from a decrease in the reference rate below the specified level. However, if the reference rate is below the floor, there will be a lag between a rise in the reference rate and a rise in the interest rate payable by the obligation, and the Fund may not benefit from increasing interest rates for a significant amount of time.

Foreign Risk.  Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls, sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. In addition, the Fund will be subject to the risk that an issuer of non-U.S. sovereign debt or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay the principal or interest when due.

Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.

Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.

Mortgage-Backed and/or Other Asset-Backed Securities Risk.  Mortgage-related and other asset-backed securities are subject to certain additional risks, including “extension risk” (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and “prepayment risk” (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Mortgage-Backed Securities offered by non-governmental issuers are subject to other risks as well, including failures of private insurers to meet their obligations and unexpectedly high rates of default on the mortgages backing the securities. Other asset-backed securities are subject to risks similar to those associated with Mortgage-Backed Securities, as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.

U.S. Government Securities Risk.  The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by those agencies, instrumentalities and government sponsored enterprises, including those issued by the Federal National Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including any legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future.
Risk Lose Money [Text] rr_RiskLoseMoney Loss of money is a risk of investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation ("FDIC") or any government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Institutional, Service, Investor, Class R6 and Class T Shares compare to those of a broad-based securities market index. Effective as of July 27, 2012, the Goldman Sachs Ultra-Short Duration Government Fund was renamed the Goldman Sachs High Quality Floating Rate Fund. Certain of the Fund’s investment strategies and policies were also changed. Performance information prior to this date reflects the Fund’s former investment strategies and policies. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Institutional, Service, Investor, Class R6 and Class T Shares compare to those of a broad-based securities market index.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess As of the date of the Prospectus, Class T Shares have not commenced operations.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.gsamfunds.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The total return for Class A Shares for the six-month period ended
June 30, 2017 was 0.79%.

Best Quarter
Q2 ‘09              +1.69%

Worst Quarter
Q4 ‘08              –1.70%
Performance Table Heading rr_PerformanceTableHeading AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Performance Table Does Reflect Sales Loads rr_PerformanceTableDoesReflectSalesLoads Performance has been adjusted to reflect the higher maximum sales charge (load) imposed on purchases of Class T Shares. Class A Shares had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class A Shares impose a lower maximum sales charge (load) on purchases.
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor's tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown The after-tax returns are for Class A Shares only. The after-tax returns for Institutional, Service, Investor and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The after-tax returns are for Class A Shares only. The after-tax returns for Institutional, Service, Investor and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Goldman Sachs High Quality Floating Rate Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 1.50%
Management Fees rr_ManagementFeesOverAssets 0.31% [1]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.24%
Other Expenses rr_OtherExpensesOverAssets 0.24% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.81%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.10%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.71% [4]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 500,000
1 Year rr_ExpenseExampleYear01 221
3 Years rr_ExpenseExampleYear03 395
5 Years rr_ExpenseExampleYear05 583
10 Years rr_ExpenseExampleYear10 $ 1,127
2007 rr_AnnualReturn2007 4.64%
2008 rr_AnnualReturn2008 (1.67%)
2009 rr_AnnualReturn2009 3.84%
2010 rr_AnnualReturn2010 0.19%
2011 rr_AnnualReturn2011 (0.59%)
2012 rr_AnnualReturn2012 0.68%
2013 rr_AnnualReturn2013 0.27%
2014 rr_AnnualReturn2014 (0.33%)
2015 rr_AnnualReturn2015 (0.78%)
2016 rr_AnnualReturn2016 1.10%
Year to Date Return, Label rr_YearToDateReturnLabel total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 0.79%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 1.69%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (1.70%)
1 Year rr_AverageAnnualReturnYear01 (0.40%)
5 Years rr_AverageAnnualReturnYear05 (0.11%)
10 Years rr_AverageAnnualReturnYear10 0.57%
Since Inception rr_AverageAnnualReturnSinceInception 2.56%
Inception Date rr_AverageAnnualReturnInceptionDate May 15, 1995
Goldman Sachs High Quality Floating Rate Fund | Institutional  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Management Fees rr_ManagementFeesOverAssets 0.31% [1]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.15%
Other Expenses rr_OtherExpensesOverAssets 0.15% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.47%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.10%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.37% [4]
1 Year rr_ExpenseExampleYear01 $ 38
3 Years rr_ExpenseExampleYear03 141
5 Years rr_ExpenseExampleYear05 253
10 Years rr_ExpenseExampleYear10 $ 582
1 Year rr_AverageAnnualReturnYear01 1.39%
5 Years rr_AverageAnnualReturnYear05 0.48%
10 Years rr_AverageAnnualReturnYear10 1.05%
Since Inception rr_AverageAnnualReturnSinceInception 3.25%
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 17, 1991
Goldman Sachs High Quality Floating Rate Fund | Service  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Management Fees rr_ManagementFeesOverAssets 0.31% [1]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets 0.25%
All Other Expenses rr_Component3OtherExpensesOverAssets 0.15%
Other Expenses rr_OtherExpensesOverAssets 0.40% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.97%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.10%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.87% [4]
1 Year rr_ExpenseExampleYear01 $ 89
3 Years rr_ExpenseExampleYear03 299
5 Years rr_ExpenseExampleYear05 527
10 Years rr_ExpenseExampleYear10 $ 1,181
1 Year rr_AverageAnnualReturnYear01 0.77%
5 Years rr_AverageAnnualReturnYear05 0.03%
10 Years rr_AverageAnnualReturnYear10 0.57%
Since Inception rr_AverageAnnualReturnSinceInception 2.16%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 27, 1997
Goldman Sachs High Quality Floating Rate Fund | Investor  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Management Fees rr_ManagementFeesOverAssets 0.31% [1]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.23%
Other Expenses rr_OtherExpensesOverAssets 0.23% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.55%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.10%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.45% [4]
1 Year rr_ExpenseExampleYear01 $ 46
3 Years rr_ExpenseExampleYear03 166
5 Years rr_ExpenseExampleYear05 297
10 Years rr_ExpenseExampleYear10 $ 680
1 Year rr_AverageAnnualReturnYear01 1.30%
5 Years rr_AverageAnnualReturnYear05 0.39%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 0.55%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2007
Goldman Sachs High Quality Floating Rate Fund | Class R6  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Management Fees rr_ManagementFeesOverAssets 0.31% [1]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.12%
Other Expenses rr_OtherExpensesOverAssets 0.12% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.44%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.09%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.35% [4]
1 Year rr_ExpenseExampleYear01 $ 36
3 Years rr_ExpenseExampleYear03 132
5 Years rr_ExpenseExampleYear05 237
10 Years rr_ExpenseExampleYear10 $ 546
1 Year rr_AverageAnnualReturnYear01 1.41% [5]
5 Years rr_AverageAnnualReturnYear05 0.49% [5]
10 Years rr_AverageAnnualReturnYear10 1.05% [5]
Since Inception rr_AverageAnnualReturnSinceInception 3.25% [5]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [5]
Goldman Sachs High Quality Floating Rate Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Management Fees rr_ManagementFeesOverAssets 0.31% [1]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.24%
Other Expenses rr_OtherExpensesOverAssets 0.24% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.81%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.10%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.71% [4]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
1 Year rr_ExpenseExampleYear01 321
3 Years rr_ExpenseExampleYear03 492
5 Years rr_ExpenseExampleYear05 679
10 Years rr_ExpenseExampleYear10 $ 1,218
1 Year rr_AverageAnnualReturnYear01 (1.42%) [6]
5 Years rr_AverageAnnualReturnYear05 (0.32%) [6]
10 Years rr_AverageAnnualReturnYear10 0.46% [6]
Since Inception rr_AverageAnnualReturnSinceInception 2.51% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [6]
Goldman Sachs High Quality Floating Rate Fund | Returns After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (0.67%)
5 Years rr_AverageAnnualReturnYear05 (0.23%)
10 Years rr_AverageAnnualReturnYear10 0.07%
Since Inception rr_AverageAnnualReturnSinceInception 1.36%
Inception Date rr_AverageAnnualReturnInceptionDate May 15, 1995
Goldman Sachs High Quality Floating Rate Fund | Returns After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (0.23%)
5 Years rr_AverageAnnualReturnYear05 (0.14%)
10 Years rr_AverageAnnualReturnYear10 0.26%
Since Inception rr_AverageAnnualReturnSinceInception 1.50%
Inception Date rr_AverageAnnualReturnInceptionDate May 15, 1995
Goldman Sachs High Quality Floating Rate Fund | Bank of America Merrill Lynch Three-Month U.S. Treasury Bill Index (reflects no deduction for fees or expenses) | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.33%
5 Years rr_AverageAnnualReturnYear05 0.12%
10 Years rr_AverageAnnualReturnYear10 0.80%
Since Inception rr_AverageAnnualReturnSinceInception 2.53%
Inception Date rr_AverageAnnualReturnInceptionDate May 15, 1995
Goldman Sachs High Quality Floating Rate Fund | Bank of America Merrill Lynch Three-Month U.S. Treasury Bill Index (reflects no deduction for fees or expenses) | Institutional  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.33%
5 Years rr_AverageAnnualReturnYear05 0.12%
10 Years rr_AverageAnnualReturnYear10 0.80%
Since Inception rr_AverageAnnualReturnSinceInception 2.80%
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 17, 1991
Goldman Sachs High Quality Floating Rate Fund | Bank of America Merrill Lynch Three-Month U.S. Treasury Bill Index (reflects no deduction for fees or expenses) | Service  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.33%
5 Years rr_AverageAnnualReturnYear05 0.12%
10 Years rr_AverageAnnualReturnYear10 0.80%
Since Inception rr_AverageAnnualReturnSinceInception 2.25%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 27, 1997
Goldman Sachs High Quality Floating Rate Fund | Bank of America Merrill Lynch Three-Month U.S. Treasury Bill Index (reflects no deduction for fees or expenses) | Investor  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.33%
5 Years rr_AverageAnnualReturnYear05 0.12%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 0.37%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2007
Goldman Sachs High Quality Floating Rate Fund | Bank of America Merrill Lynch Three-Month U.S. Treasury Bill Index (reflects no deduction for fees or expenses) | Class R6  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.33% [5]
5 Years rr_AverageAnnualReturnYear05 0.12% [5]
10 Years rr_AverageAnnualReturnYear10 0.80% [5]
Since Inception rr_AverageAnnualReturnSinceInception 2.80% [5]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [5]
Goldman Sachs High Quality Floating Rate Fund | Bank of America Merrill Lynch Three-Month U.S. Treasury Bill Index (reflects no deduction for fees or expenses) | Class T  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.33% [6]
5 Years rr_AverageAnnualReturnYear05 0.12% [6]
10 Years rr_AverageAnnualReturnYear10 0.80% [6]
Since Inception rr_AverageAnnualReturnSinceInception 2.53% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [6]
[1] The Fund's "Management Fees" have been restated to reflect current fees.
[2] The "Other Expenses" for Class R6 Shares have been restated and the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[3] The Investment Adviser has agreed to: (i) waive a portion of its management fee payable by the Fund in an amount equal to any management fees it earns as an investment adviser to any of the affiliated funds in which the Fund invests; and (ii) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, shareholder administration fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.014% of the Fund's average daily net assets. These arrangements will remain in effect through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangements without the approval of the Board of Trustees.
[4] After Fee Waiver and Expense Limitation
[5] Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of the Class R6 Shares shown in the table above is that of the Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses.
[6] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has been adjusted to reflect the higher maximum sales charge (load) imposed on purchases of Class T Shares. Class A Shares had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class A Shares impose a lower maximum sales charge (load) on purchases.
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Goldman Sachs Short Duration Government Fund
Goldman Sachs Short Duration Government Fund—Summary
Investment Objective
The Goldman Sachs Short Duration Government Fund (the “Fund”) seeks a high level of current income
and secondarily, in seeking current income, may also consider the potential for capital appreciation.
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $500,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 59 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 63 and in “Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts” on page 106 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees
(fees paid directly from your investment)
Shareholder Fees - Goldman Sachs Short Duration Government Fund
Class A
Class C
Institutional
Service
Investor
Class R6
Class T
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 1.50% none none none none none 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) [1] none 0.65% none none none none none
[1] A contingent deferred sales charge ("CDSC") of 0.65% is imposed on Class C Shares redeemed within 12 months of purchase.
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses - Goldman Sachs Short Duration Government Fund
Class A
Class C
Institutional
Service
Investor
Class R6
Class T
Management Fees 0.43% 0.43% 0.43% 0.43% 0.43% 0.43% 0.43%
Distribution and/or Service (12b-1) Fees 0.25% 0.75% none 0.25% none none 0.25%
Other Expenses [1] 0.18% 0.43% 0.09% 0.34% 0.18% 0.08% 0.18%
Service Fees none 0.25% none none none none none
Shareholder Administration Fees none none none 0.25% none none none
All Other Expenses 0.18% 0.18% 0.09% 0.09% 0.18% 0.08% 0.18%
Acquired Fund Fees and Expenses 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
Total Annual Fund Operating Expenses 0.87% 1.62% 0.53% 1.03% 0.62% 0.52% 0.87%
Fee Waiver and Expense Limitation [2] (0.06%) (0.41%) (0.06%) (0.06%) (0.06%) (0.06%) (0.06%)
Total Annual Fund Operating Expenses [3] 0.81% 1.21% 0.47% 0.97% 0.56% 0.46% 0.81%
[1] The "Other Expenses" for Class R6 Shares have been restated and the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[2] The Investment Adviser has agreed to: (i) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, shareholder administration fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.004% of the Fund's average daily net assets; and (ii) waive a portion of its management fee payable by the Fund in an amount equal to any management fees it earns as an investment adviser to any of the affiliated funds in which the Fund invests. In addition, Goldman Sachs & Co. LLC ("Goldman Sachs") has agreed to waive a portion of the distribution (12b-1) and service fees equal to 0.35% of the average daily net assets attributable to Class C Shares of the Fund. These arrangements will remain in effect through at least July 28, 2018, and prior to such date the Investment Adviser or Goldman Sachs (as applicable) may not terminate the arrangements without the approval of the Board of Trustees.
[3] After Fee Waiver and Expense Limitation
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Service, Investor, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Service, Investor, Class R6 and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Assuming complete redemption at end of period
Expense Example - Goldman Sachs Short Duration Government Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A Shares 231 417 619 1,201
Class C Shares 188 471 843 1,887
Institutional Shares 48 164 290 659
Service Shares 99 322 563 1,254
Investor Shares 57 192 340 769
Class R6 Shares 47 161 285 647
Class T Shares 331 515 714 1,290
Assuming no redemption
Expense Example, No Redemption
1 Year
3 Years
5 Years
10 Years
Goldman Sachs Short Duration Government Fund | Class C Shares | USD ($) 123 471 843 1,887
Portfolio Turnover
The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 173% of the average value of its portfolio.
Principal Strategy
The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in securities issued or guaranteed by the U.S. Government, its agencies, instrumentalities or sponsored enterprises (“U.S. Government Securities”) and in repurchase agreements collateralized by such securities. Substantially all of the Fund’s Net Assets will be invested in U.S. Government Securities and instruments based on U.S. Government Securities. The Fund also intends to invest in derivatives, including (but not limited to) interest rate futures, options and interest rate swaps, which are used primarily to hedge the Fund’s portfolio risks, manage the Fund’s duration and/or gain exposure to certain fixed income securities. 100% of the Fund’s portfolio will be invested in U.S. dollar-denominated securities.

The Fund’s target duration range under normal interest rate conditions is expected to approximate that of the Bank of America Merrill Lynch Two-Year U.S. Treasury Note Index, plus or minus 1 year, and over the past five years ended June 30, 2017, the duration of this index has ranged between 1.89 and 2.00 years. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

The Fund’s benchmark index is the Bank of America Merrill Lynch Two-Year U.S. Treasury Note Index.

GSAM’s Fixed Income Investing Philosophy:

Global fixed income markets are constantly evolving and are highly diverse—with a large number of countries, currencies, sectors, issuers and securities. We believe that inefficiencies in these complex markets cause bond prices to diverge from their fair value. To capitalize on these inefficiencies and generate consistent risk-adjusted performance, we believe it is critical to:
  • Thoughtfully combine diversified sources of return by employing multiple strategies
  • Take a global perspective to uncover relative value opportunities
  • Employ focused specialist teams to identify short-term mis-pricings and incorporate long-term views
  • Emphasize a risk-aware approach as we view risk management as both an offensive and defensive tool
  • Build a strong team of skilled investors who excel on behalf of our clients
Principal Risks of the Fund
Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.

Call/Prepayment Risk.  An issuer could exercise its right to pay principal on an obligation held by the Fund (such as a Mortgage-Backed Security) earlier than expected. This may happen when there is a decline in interest rates, when credit spreads change, or when an issuer’s credit quality improves. Under these circumstances, the Fund may be unable to recoup all of its initial investment and will also suffer from having to reinvest in lower-yielding securities.

Derivatives Risk.  The Fund’s use of options, futures, swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the Securities and Exchange Commission (“SEC”) proposed new regulations relating to a mutual fund’s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact a Fund’s ability to invest in derivatives and other instruments and adversely affect such Fund’s performance and ability to pursue its investment objectives.

Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.

Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.

Mortgage-Backed and/or Other Asset-Backed Securities Risk.  Mortgage-related and other asset-backed securities are subject to certain additional risks, including “extension risk” (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and “prepayment risk” (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Other asset-backed securities are subject to risks similar to those associated with mortgage-backed securities, as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.

U.S. Government Securities Risk.  The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by those agencies, instrumentalities and government sponsored enterprises, including those issued by the Federal National Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including any legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future.
Performance
The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Service, Investor, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart
The total return for Class A Shares for the six-month period ended
June 30, 2017 was 0.53%.

Best Quarter
Q4 ‘08              +3.37%

Worst Quarter
Q4 ‘15              –0.70%
AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Average Annual Total Returns - Goldman Sachs Short Duration Government Fund
1 Year
5 Years
10 Years
Since Inception
Inception Date
Class A Shares (0.41%) 0.02% 2.08% 3.28% May 01, 1997
Class A Shares | Returns After Taxes on Distributions (1.00%) (0.34%) 1.42% 2.07% May 01, 1997
Class A Shares | Returns After Taxes on Distributions and Sale of Fund Shares (0.23%) (0.14%) 1.39% 2.06% May 01, 1997
Class A Shares | Bank of America Merrill Lynch Two-Year U.S. Treasury Note Index (reflects no deduction for fees or expenses) 0.66% 0.48% 2.18% 3.32% May 01, 1997
Class C Shares 0.05% (0.03%) 1.73% 2.63% Aug. 15, 1997
Class C Shares | Bank of America Merrill Lynch Two-Year U.S. Treasury Note Index (reflects no deduction for fees or expenses) 0.66% 0.48% 2.18% 3.24% Aug. 15, 1997
Institutional Shares 1.42% 0.67% 2.59% 4.76% Aug. 15, 1988
Institutional Shares | Bank of America Merrill Lynch Two-Year U.S. Treasury Note Index (reflects no deduction for fees or expenses) 0.66% 0.48% 2.18% 4.47% Aug. 15, 1988
Service Shares 0.92% 0.19% 2.09% 3.38% Apr. 10, 1996
Service Shares | Bank of America Merrill Lynch Two-Year U.S. Treasury Note Index (reflects no deduction for fees or expenses) 0.66% 0.48% 2.18% 3.46% Apr. 10, 1996
Investor Shares 1.33% 0.59% 2.05% Nov. 30, 2007
Investor Shares | Bank of America Merrill Lynch Two-Year U.S. Treasury Note Index (reflects no deduction for fees or expenses) 0.66% 0.48% 1.61% Nov. 30, 2007
Class R6 Shares [1] 1.44% 0.68% 2.60% 4.76% Jul. 31, 2015
Class R6 Shares | Bank of America Merrill Lynch Two-Year U.S. Treasury Note Index (reflects no deduction for fees or expenses) [1] 0.66% 0.48% 2.18% 4.47% Jul. 31, 2015
Class T Shares [2] (1.44%) (0.17%) 1.70% 2.49% Jul. 28, 2017
Class T Shares | Bank of America Merrill Lynch Two-Year U.S. Treasury Note Index (reflects no deduction for fees or expenses) [2] 0.66% 0.48% 2.18% 3.32% Jul. 28, 2017
[1] Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of the Class R6 Shares shown in the table above is that of the Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses.
[2] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has been adjusted to reflect the higher maximum sales charge (load) imposed on purchases of Class T Shares. Class A Shares had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class A Shares impose a lower maximum sales charge (load) on purchases.
The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
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Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName GOLDMAN SACHS TRUST
Prospectus Date rr_ProspectusDate Jul. 28, 2017
Goldman Sachs Short Duration Government Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Goldman Sachs Short Duration Government Fund—Summary
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Goldman Sachs Short Duration Government Fund (the “Fund”) seeks a high level of current income
Objective, Secondary [Text Block] rr_ObjectiveSecondaryTextBlock and secondarily, in seeking current income, may also consider the potential for capital appreciation.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $500,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 59 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 63 and in “Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts” on page 106 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees
(fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination July 28, 2018
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 173% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 173.00%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock A contingent deferred sales charge ("CDSC") of 0.65% is imposed on Class C Shares redeemed within 12 months of purchase.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $500,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 59 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 63 and in “Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts” on page 106 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent The "Other Expenses" for Class R6 Shares have been restated
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Service, Investor, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Service, Investor, Class R6 and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption Assuming complete redemption at end of period
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption Assuming no redemption
Strategy [Heading] rr_StrategyHeading Principal Strategy
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in securities issued or guaranteed by the U.S. Government, its agencies, instrumentalities or sponsored enterprises (“U.S. Government Securities”) and in repurchase agreements collateralized by such securities. Substantially all of the Fund’s Net Assets will be invested in U.S. Government Securities and instruments based on U.S. Government Securities. The Fund also intends to invest in derivatives, including (but not limited to) interest rate futures, options and interest rate swaps, which are used primarily to hedge the Fund’s portfolio risks, manage the Fund’s duration and/or gain exposure to certain fixed income securities. 100% of the Fund’s portfolio will be invested in U.S. dollar-denominated securities.

The Fund’s target duration range under normal interest rate conditions is expected to approximate that of the Bank of America Merrill Lynch Two-Year U.S. Treasury Note Index, plus or minus 1 year, and over the past five years ended June 30, 2017, the duration of this index has ranged between 1.89 and 2.00 years. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

The Fund’s benchmark index is the Bank of America Merrill Lynch Two-Year U.S. Treasury Note Index.

GSAM’s Fixed Income Investing Philosophy:

Global fixed income markets are constantly evolving and are highly diverse—with a large number of countries, currencies, sectors, issuers and securities. We believe that inefficiencies in these complex markets cause bond prices to diverge from their fair value. To capitalize on these inefficiencies and generate consistent risk-adjusted performance, we believe it is critical to:
  • Thoughtfully combine diversified sources of return by employing multiple strategies
  • Take a global perspective to uncover relative value opportunities
  • Employ focused specialist teams to identify short-term mis-pricings and incorporate long-term views
  • Emphasize a risk-aware approach as we view risk management as both an offensive and defensive tool
  • Build a strong team of skilled investors who excel on behalf of our clients
Risk [Heading] rr_RiskHeading Principal Risks of the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.

Call/Prepayment Risk.  An issuer could exercise its right to pay principal on an obligation held by the Fund (such as a Mortgage-Backed Security) earlier than expected. This may happen when there is a decline in interest rates, when credit spreads change, or when an issuer’s credit quality improves. Under these circumstances, the Fund may be unable to recoup all of its initial investment and will also suffer from having to reinvest in lower-yielding securities.

Derivatives Risk.  The Fund’s use of options, futures, swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the Securities and Exchange Commission (“SEC”) proposed new regulations relating to a mutual fund’s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact a Fund’s ability to invest in derivatives and other instruments and adversely affect such Fund’s performance and ability to pursue its investment objectives.

Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.

Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.

Mortgage-Backed and/or Other Asset-Backed Securities Risk.  Mortgage-related and other asset-backed securities are subject to certain additional risks, including “extension risk” (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and “prepayment risk” (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Other asset-backed securities are subject to risks similar to those associated with mortgage-backed securities, as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.

U.S. Government Securities Risk.  The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by those agencies, instrumentalities and government sponsored enterprises, including those issued by the Federal National Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including any legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future.
Risk Lose Money [Text] rr_RiskLoseMoney Loss of money is a risk of investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation ("FDIC") or any government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Service, Investor, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Service, Investor, Class R6 and Class T Shares compare to those of a broad-based securities market index.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess As of the date of the Prospectus, Class T Shares have not commenced operations.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.gsamfunds.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The total return for Class A Shares for the six-month period ended
June 30, 2017 was 0.53%.

Best Quarter
Q4 ‘08              +3.37%

Worst Quarter
Q4 ‘15              –0.70%
Performance Table Heading rr_PerformanceTableHeading AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Performance Table Does Reflect Sales Loads rr_PerformanceTableDoesReflectSalesLoads Performance has been adjusted to reflect the higher maximum sales charge (load) imposed on purchases of Class T Shares. Class A Shares had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class A Shares impose a lower maximum sales charge (load) on purchases.
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares, and returns for Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Goldman Sachs Short Duration Government Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 1.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.43%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.18%
Other Expenses rr_OtherExpensesOverAssets 0.18% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.87%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.06%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.81% [4]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 500,000
1 Year rr_ExpenseExampleYear01 231
3 Years rr_ExpenseExampleYear03 417
5 Years rr_ExpenseExampleYear05 619
10 Years rr_ExpenseExampleYear10 $ 1,201
2007 rr_AnnualReturn2007 6.60%
2008 rr_AnnualReturn2008 7.98%
2009 rr_AnnualReturn2009 3.82%
2010 rr_AnnualReturn2010 1.97%
2011 rr_AnnualReturn2011 0.69%
2012 rr_AnnualReturn2012 0.76%
2013 rr_AnnualReturn2013 (0.10%)
2014 rr_AnnualReturn2014 0.08%
2015 rr_AnnualReturn2015 (0.14%)
2016 rr_AnnualReturn2016 1.08%
Year to Date Return, Label rr_YearToDateReturnLabel total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 0.53%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Dec. 31, 2008
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 3.37%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2015
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (0.70%)
1 Year rr_AverageAnnualReturnYear01 (0.41%)
5 Years rr_AverageAnnualReturnYear05 0.02%
10 Years rr_AverageAnnualReturnYear10 2.08%
Since Inception rr_AverageAnnualReturnSinceInception 3.28%
Inception Date rr_AverageAnnualReturnInceptionDate May 01, 1997
Goldman Sachs Short Duration Government Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther 0.65% [1]
Management Fees rr_ManagementFeesOverAssets 0.43%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.18%
Other Expenses rr_OtherExpensesOverAssets 0.43% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.62%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.41%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.21% [4]
1 Year rr_ExpenseExampleYear01 $ 188
3 Years rr_ExpenseExampleYear03 471
5 Years rr_ExpenseExampleYear05 843
10 Years rr_ExpenseExampleYear10 1,887
1 Year rr_ExpenseExampleNoRedemptionYear01 123
3 Years rr_ExpenseExampleNoRedemptionYear03 471
5 Years rr_ExpenseExampleNoRedemptionYear05 843
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,887
1 Year rr_AverageAnnualReturnYear01 0.05%
5 Years rr_AverageAnnualReturnYear05 (0.03%)
10 Years rr_AverageAnnualReturnYear10 1.73%
Since Inception rr_AverageAnnualReturnSinceInception 2.63%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 15, 1997
Goldman Sachs Short Duration Government Fund | Institutional  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.43%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.09%
Other Expenses rr_OtherExpensesOverAssets 0.09% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.53%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.06%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.47% [4]
1 Year rr_ExpenseExampleYear01 $ 48
3 Years rr_ExpenseExampleYear03 164
5 Years rr_ExpenseExampleYear05 290
10 Years rr_ExpenseExampleYear10 $ 659
1 Year rr_AverageAnnualReturnYear01 1.42%
5 Years rr_AverageAnnualReturnYear05 0.67%
10 Years rr_AverageAnnualReturnYear10 2.59%
Since Inception rr_AverageAnnualReturnSinceInception 4.76%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 15, 1988
Goldman Sachs Short Duration Government Fund | Service  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.43%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets 0.25%
All Other Expenses rr_Component3OtherExpensesOverAssets 0.09%
Other Expenses rr_OtherExpensesOverAssets 0.34% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.03%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.06%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.97% [4]
1 Year rr_ExpenseExampleYear01 $ 99
3 Years rr_ExpenseExampleYear03 322
5 Years rr_ExpenseExampleYear05 563
10 Years rr_ExpenseExampleYear10 $ 1,254
1 Year rr_AverageAnnualReturnYear01 0.92%
5 Years rr_AverageAnnualReturnYear05 0.19%
10 Years rr_AverageAnnualReturnYear10 2.09%
Since Inception rr_AverageAnnualReturnSinceInception 3.38%
Inception Date rr_AverageAnnualReturnInceptionDate Apr. 10, 1996
Goldman Sachs Short Duration Government Fund | Investor  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.43%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.18%
Other Expenses rr_OtherExpensesOverAssets 0.18% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.62%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.06%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.56% [4]
1 Year rr_ExpenseExampleYear01 $ 57
3 Years rr_ExpenseExampleYear03 192
5 Years rr_ExpenseExampleYear05 340
10 Years rr_ExpenseExampleYear10 $ 769
1 Year rr_AverageAnnualReturnYear01 1.33%
5 Years rr_AverageAnnualReturnYear05 0.59%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 2.05%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2007
Goldman Sachs Short Duration Government Fund | Class R6  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.43%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.08%
Other Expenses rr_OtherExpensesOverAssets 0.08% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.52%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.06%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.46% [4]
1 Year rr_ExpenseExampleYear01 $ 47
3 Years rr_ExpenseExampleYear03 161
5 Years rr_ExpenseExampleYear05 285
10 Years rr_ExpenseExampleYear10 $ 647
1 Year rr_AverageAnnualReturnYear01 1.44% [5]
5 Years rr_AverageAnnualReturnYear05 0.68% [5]
10 Years rr_AverageAnnualReturnYear10 2.60% [5]
Since Inception rr_AverageAnnualReturnSinceInception 4.76% [5]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [5]
Goldman Sachs Short Duration Government Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.43%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.18%
Other Expenses rr_OtherExpensesOverAssets 0.18% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.87%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.06%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.81% [4]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
1 Year rr_ExpenseExampleYear01 331
3 Years rr_ExpenseExampleYear03 515
5 Years rr_ExpenseExampleYear05 714
10 Years rr_ExpenseExampleYear10 $ 1,290
1 Year rr_AverageAnnualReturnYear01 (1.44%) [6]
5 Years rr_AverageAnnualReturnYear05 (0.17%) [6]
10 Years rr_AverageAnnualReturnYear10 1.70% [6]
Since Inception rr_AverageAnnualReturnSinceInception 2.49% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [6]
Goldman Sachs Short Duration Government Fund | Returns After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (1.00%)
5 Years rr_AverageAnnualReturnYear05 (0.34%)
10 Years rr_AverageAnnualReturnYear10 1.42%
Since Inception rr_AverageAnnualReturnSinceInception 2.07%
Inception Date rr_AverageAnnualReturnInceptionDate May 01, 1997
Goldman Sachs Short Duration Government Fund | Returns After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (0.23%)
5 Years rr_AverageAnnualReturnYear05 (0.14%)
10 Years rr_AverageAnnualReturnYear10 1.39%
Since Inception rr_AverageAnnualReturnSinceInception 2.06%
Inception Date rr_AverageAnnualReturnInceptionDate May 01, 1997
Goldman Sachs Short Duration Government Fund | Bank of America Merrill Lynch Two-Year U.S. Treasury Note Index (reflects no deduction for fees or expenses) | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.66%
5 Years rr_AverageAnnualReturnYear05 0.48%
10 Years rr_AverageAnnualReturnYear10 2.18%
Since Inception rr_AverageAnnualReturnSinceInception 3.32%
Inception Date rr_AverageAnnualReturnInceptionDate May 01, 1997
Goldman Sachs Short Duration Government Fund | Bank of America Merrill Lynch Two-Year U.S. Treasury Note Index (reflects no deduction for fees or expenses) | Class C  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.66%
5 Years rr_AverageAnnualReturnYear05 0.48%
10 Years rr_AverageAnnualReturnYear10 2.18%
Since Inception rr_AverageAnnualReturnSinceInception 3.24%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 15, 1997
Goldman Sachs Short Duration Government Fund | Bank of America Merrill Lynch Two-Year U.S. Treasury Note Index (reflects no deduction for fees or expenses) | Institutional  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.66%
5 Years rr_AverageAnnualReturnYear05 0.48%
10 Years rr_AverageAnnualReturnYear10 2.18%
Since Inception rr_AverageAnnualReturnSinceInception 4.47%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 15, 1988
Goldman Sachs Short Duration Government Fund | Bank of America Merrill Lynch Two-Year U.S. Treasury Note Index (reflects no deduction for fees or expenses) | Service  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.66%
5 Years rr_AverageAnnualReturnYear05 0.48%
10 Years rr_AverageAnnualReturnYear10 2.18%
Since Inception rr_AverageAnnualReturnSinceInception 3.46%
Inception Date rr_AverageAnnualReturnInceptionDate Apr. 10, 1996
Goldman Sachs Short Duration Government Fund | Bank of America Merrill Lynch Two-Year U.S. Treasury Note Index (reflects no deduction for fees or expenses) | Investor  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.66%
5 Years rr_AverageAnnualReturnYear05 0.48%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 1.61%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2007
Goldman Sachs Short Duration Government Fund | Bank of America Merrill Lynch Two-Year U.S. Treasury Note Index (reflects no deduction for fees or expenses) | Class R6  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.66% [5]
5 Years rr_AverageAnnualReturnYear05 0.48% [5]
10 Years rr_AverageAnnualReturnYear10 2.18% [5]
Since Inception rr_AverageAnnualReturnSinceInception 4.47% [5]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [5]
Goldman Sachs Short Duration Government Fund | Bank of America Merrill Lynch Two-Year U.S. Treasury Note Index (reflects no deduction for fees or expenses) | Class T  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.66% [6]
5 Years rr_AverageAnnualReturnYear05 0.48% [6]
10 Years rr_AverageAnnualReturnYear10 2.18% [6]
Since Inception rr_AverageAnnualReturnSinceInception 3.32% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [6]
[1] A contingent deferred sales charge ("CDSC") of 0.65% is imposed on Class C Shares redeemed within 12 months of purchase.
[2] The "Other Expenses" for Class R6 Shares have been restated and the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[3] The Investment Adviser has agreed to: (i) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, shareholder administration fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.004% of the Fund's average daily net assets; and (ii) waive a portion of its management fee payable by the Fund in an amount equal to any management fees it earns as an investment adviser to any of the affiliated funds in which the Fund invests. In addition, Goldman Sachs & Co. LLC ("Goldman Sachs") has agreed to waive a portion of the distribution (12b-1) and service fees equal to 0.35% of the average daily net assets attributable to Class C Shares of the Fund. These arrangements will remain in effect through at least July 28, 2018, and prior to such date the Investment Adviser or Goldman Sachs (as applicable) may not terminate the arrangements without the approval of the Board of Trustees.
[4] After Fee Waiver and Expense Limitation
[5] Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of the Class R6 Shares shown in the table above is that of the Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses.
[6] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has been adjusted to reflect the higher maximum sales charge (load) imposed on purchases of Class T Shares. Class A Shares had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class A Shares impose a lower maximum sales charge (load) on purchases.
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Goldman Sachs Inflation Protected Securities Fund
Goldman Sachs Inflation Protected Securities Fund—Summary
Investment Objective
The Goldman Sachs Inflation Protected Securities Fund (the “Fund”) seeks real return consistent with preservation of capital.
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 59 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 63 and in “Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts” on page 106 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees
(fees paid directly from your investment):
Shareholder Fees - Goldman Sachs Inflation Protected Securities Fund
Class A
Class C
Institutional
Investor
Class R
Class R6
Class T
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 3.75% none none none none none 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) [1] none 1.00% none none none none none
[1] A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase.
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment):
Annual Fund Operating Expenses - Goldman Sachs Inflation Protected Securities Fund
Class A
Class C
Institutional
Investor
Class R
Class R6
Class T
Management Fees [1] 0.26% 0.26% 0.26% 0.26% 0.26% 0.26% 0.26%
Distribution and/or Service (12b-1) Fees 0.25% 0.75% none none 0.50% none 0.25%
Other Expenses [2] 0.26% 0.52% 0.17% 0.26% 0.26% 0.15% 0.26%
Service Fees none 0.25% none none none none none
All Other Expenses 0.26% 0.27% 0.17% 0.26% 0.26% 0.15% 0.26%
Total Annual Fund Operating Expenses 0.77% 1.53% 0.43% 0.52% 1.02% 0.41% 0.77%
Fee Waiver and Expense Limitation [3] (0.09%) (0.10%) (0.09%) (0.09%) (0.09%) (0.08%) (0.09%)
Total Annual Fund Operating Expenses [4] 0.68% 1.43% 0.34% 0.43% 0.93% 0.33% 0.68%
[1] The Fund's "Management Fees" have been restated to reflect current fees.
[2] The "Other Expenses" for Class R6 Shares have been restated and the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[3] The Investment Adviser has agreed to: (i) waive a portion of its management fee payable by the Fund in an amount equal to any management fees it earns as an investment adviser to any of the affiliated funds in which the Fund invests; and (ii) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.044% of the Fund's average daily net assets. These arrangements will remain in effect through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangements without the approval of the Board of Trustees.
[4] After Fee Waiver and Expense Limitation
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Investor, Class R, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Investor, Class R, Class R6 and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Assuming complete redemption at end of period
Expense Example - Goldman Sachs Inflation Protected Securities Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A Shares 442 603 778 1,285
Class C Shares 246 474 825 1,815
Institutional Shares 35 129 232 533
Investor Shares 44 158 282 644
Class R Shares 95 316 555 1,240
Class R6 Shares 34 124 222 510
Class T Shares 318 481 659 1,172
Assuming no redemption
Expense Example, No Redemption
1 Year
3 Years
5 Years
10 Years
Goldman Sachs Inflation Protected Securities Fund | Class C Shares | USD ($) 146 474 825 1,815
Portfolio Turnover
The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 189% of the average value of its portfolio.
Principal Strategy
The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in inflation protected securities (“IPS”) of varying maturities issued by the U.S. Treasury (“TIPS”) and other U.S. and non-U.S. Government agencies and corporations (“CIPS”). IPS are designed to provide inflation protection to investors. The U.S. Treasury uses the Consumer Price Index for Urban Consumers (the “CPIU”) as the measurement of inflation, while other issuers of IPS may use other indices as the measure of inflation. IPS are income-generating instruments whose interest and principal payments are adjusted for inflation—a sustained increase in prices that erodes the purchasing power of money. The inflation adjustment, which is typically applied monthly to the principal of the bond, follows a designated inflation index, such as the CPIU. A fixed coupon rate is applied to the inflation-adjusted principal so that as inflation rises, both the principal value and the interest payments increase. This can provide investors with a hedge against inflation, as it helps preserve the purchasing power of an investment. Because of this inflation adjustment feature, inflation protected bonds typically have lower yields than conventional fixed-rate bonds.

The remainder of the Fund’s Net Assets (up to 20%) may be invested in other fixed income securities, including securities issued or guaranteed by the U.S. Government, its agencies, instrumentalities or sponsored enterprises (“U.S. Government Securities”), asset-backed securities, mortgage-backed securities, corporate securities, non-investment grade fixed income securities and securities issued by foreign corporate and governmental issuers.

The Fund also intends to invest in derivatives, including (but not limited to) futures and inflation-linked swaps, primarily to hedge the Fund’s portfolio risks, manage the Fund’s duration, and/or gain exposure to certain fixed income securities. The Fund’s target duration range under normal interest rate conditions is expected to approximate that of the Bloomberg Barclays U.S. Treasury Inflation-Protected Securities (TIPS) Index, plus or minus 2 years, and over the past five years ended June 30, 2017, the duration of this index has ranged between 5.10 and 8.21 years. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

The Fund’s benchmark index is the Bloomberg Barclays U.S. Treasury Inflation-Protected Securities (TIPS) Index.

GSAM’s Fixed Income Investing Philosophy:

Global fixed income markets are constantly evolving and are highly diverse—with a large number of countries, currencies, sectors, issuers and securities. We believe that inefficiencies in these complex markets cause bond prices to diverge from their fair value. To capitalize on these inefficiencies and generate consistent risk-adjusted performance, we believe it is critical to:
  • Thoughtfully combine diversified sources of return by employing multiple strategies
  • Take a global perspective to uncover relative value opportunities
  • Employ focused specialist teams to identify short-term mis-pricings and incorporate long-term views
  • Emphasize a risk-aware approach as we view risk management as both an offensive and defensive tool
  • Build a strong team of skilled investors who excel on behalf of our clients
Principal Risks of the Fund
Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.

CPIU Measurement Risk.  The CPIU is a measurement of changes in the cost of living, made up of components such as housing, food, transportation and energy. There can be no assurance that the CPIU will accurately measure the real rate of inflation in the prices of goods and services, which may affect the valuation of the Fund.

Credit/Default Risk.  An issuer or guarantor of fixed income securities or instruments held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant deterioration in net asset value (“NAV”).

Deflation Risk.  The Fund will be subject to the risk that prices throughout the economy may decline over time, resulting in “deflation.” If this occurs, the principal and income of IPS held by the Fund would likely decline in price, which could result in losses for the Fund.

Derivatives Risk.  The Fund’s use of futures and inflation-linked swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund’s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund’s ability to invest in derivatives and other instruments and adversely affect the Fund’s performance and ability to pursue its investment objectives.

Inflation Protected Securities Risk.  The value of IPS generally fluctuates in response to changes in real interest rates, which are in turn tied to the relationship between nominal interest rates and the rate of inflation. If nominal interest rates increased at a faster rate than inflation, real interest rates might rise, leading to a decrease in the value of IPS. The market for IPS may be less developed or liquid, and more volatile, than certain other securities markets.

Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.

Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.

Tax Consequences Risk.  The Fund will be subject to the risk that adjustments for inflation to the principal amount of an inflation indexed bond may give rise to original issue discount, which will be includable in the Fund’s gross income.

U.S. Government Securities Risk.  The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by those agencies, instrumentalities and government sponsored enterprises, including those issued by the Federal National Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and the Federal Home Loan Banks, are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources including any legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future.
Performance
The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Investor, Class R, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart
The total return for Class A Shares for the six-month
period ended June 30, 2017 was 0.62%.

Best Quarter
Q1 ‘08              +5.99%

Worst Quarter
Q2 ‘13              –6.91%
AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Average Annual Total Returns - Goldman Sachs Inflation Protected Securities Fund
1 Year
5 Years
Since Inception
Inception Date
Class A Shares 0.55% (0.30%) 3.34% Aug. 31, 2007
Class A Shares | Returns After Taxes on Distributions 0.10% (1.02%) 2.13% Aug. 31, 2007
Class A Shares | Returns After Taxes on Distributions and Sale of Fund Shares 0.32% (0.50%) 2.17% Aug. 31, 2007
Class A Shares | Bloomberg Barclays U.S. TIPS Index (reflects no deduction for fees or expenses) 4.67% 0.89% 4.14% Aug. 31, 2007
Class C Shares 2.64% (0.26%) 3.04% Aug. 31, 2007
Class C Shares | Bloomberg Barclays U.S. TIPS Index (reflects no deduction for fees or expenses) 4.67% 0.89% 4.14% Aug. 31, 2007
Institutional Shares 4.84% 0.83% 4.16% Aug. 31, 2007
Institutional Shares | Bloomberg Barclays U.S. TIPS Index (reflects no deduction for fees or expenses) 4.67% 0.89% 4.14% Aug. 31, 2007
Investor Shares 4.71% 0.70% 3.46% Nov. 30, 2007
Investor Shares | Bloomberg Barclays U.S. TIPS Index (reflects no deduction for fees or expenses) 4.67% 0.89% 3.53% Nov. 30, 2007
Class R Shares 4.18% 0.22% 2.97% Nov. 30, 2007
Class R Shares | Bloomberg Barclays U.S. TIPS Index (reflects no deduction for fees or expenses) 4.67% 0.89% 3.53% Nov. 30, 2007
Class R6 Shares [1] 4.76% 0.81% 4.15% Jul. 31, 2015
Class R6 Shares | Bloomberg Barclays U.S. TIPS Index (reflects no deduction for fees or expenses) [1] 4.67% 0.89% 4.14% Jul. 31, 2015
Class T Shares [2] 0.55% (0.30%) 3.34% Jul. 28, 2017
Class T Shares | Bloomberg Barclays U.S. TIPS Index (reflects no deduction for fees or expenses) [2] 4.67% 0.89% 4.14% Jul. 28, 2017
[1] Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of the Class R6 Shares shown in the table above is that of the Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses.
[2] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 65 R141.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName GOLDMAN SACHS TRUST
Prospectus Date rr_ProspectusDate Jul. 28, 2017
Goldman Sachs Inflation Protected Securities Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Goldman Sachs Inflation Protected Securities Fund—Summary
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Goldman Sachs Inflation Protected Securities Fund (the “Fund”) seeks real return consistent with preservation of capital.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 59 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 63 and in “Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts” on page 106 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees
(fees paid directly from your investment):
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment):
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination July 28, 2018
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 189% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 189.00%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 59 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 63 and in “Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts” on page 106 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent The Fund's "Management Fees" have been restated to reflect current fees.

The "Other Expenses" for Class R6 Shares have been restated
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Investor, Class R, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Investor, Class R, Class R6 and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption Assuming complete redemption at end of period
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption Assuming no redemption
Strategy [Heading] rr_StrategyHeading Principal Strategy
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in inflation protected securities (“IPS”) of varying maturities issued by the U.S. Treasury (“TIPS”) and other U.S. and non-U.S. Government agencies and corporations (“CIPS”). IPS are designed to provide inflation protection to investors. The U.S. Treasury uses the Consumer Price Index for Urban Consumers (the “CPIU”) as the measurement of inflation, while other issuers of IPS may use other indices as the measure of inflation. IPS are income-generating instruments whose interest and principal payments are adjusted for inflation—a sustained increase in prices that erodes the purchasing power of money. The inflation adjustment, which is typically applied monthly to the principal of the bond, follows a designated inflation index, such as the CPIU. A fixed coupon rate is applied to the inflation-adjusted principal so that as inflation rises, both the principal value and the interest payments increase. This can provide investors with a hedge against inflation, as it helps preserve the purchasing power of an investment. Because of this inflation adjustment feature, inflation protected bonds typically have lower yields than conventional fixed-rate bonds.

The remainder of the Fund’s Net Assets (up to 20%) may be invested in other fixed income securities, including securities issued or guaranteed by the U.S. Government, its agencies, instrumentalities or sponsored enterprises (“U.S. Government Securities”), asset-backed securities, mortgage-backed securities, corporate securities, non-investment grade fixed income securities and securities issued by foreign corporate and governmental issuers.

The Fund also intends to invest in derivatives, including (but not limited to) futures and inflation-linked swaps, primarily to hedge the Fund’s portfolio risks, manage the Fund’s duration, and/or gain exposure to certain fixed income securities. The Fund’s target duration range under normal interest rate conditions is expected to approximate that of the Bloomberg Barclays U.S. Treasury Inflation-Protected Securities (TIPS) Index, plus or minus 2 years, and over the past five years ended June 30, 2017, the duration of this index has ranged between 5.10 and 8.21 years. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

The Fund’s benchmark index is the Bloomberg Barclays U.S. Treasury Inflation-Protected Securities (TIPS) Index.

GSAM’s Fixed Income Investing Philosophy:

Global fixed income markets are constantly evolving and are highly diverse—with a large number of countries, currencies, sectors, issuers and securities. We believe that inefficiencies in these complex markets cause bond prices to diverge from their fair value. To capitalize on these inefficiencies and generate consistent risk-adjusted performance, we believe it is critical to:
  • Thoughtfully combine diversified sources of return by employing multiple strategies
  • Take a global perspective to uncover relative value opportunities
  • Employ focused specialist teams to identify short-term mis-pricings and incorporate long-term views
  • Emphasize a risk-aware approach as we view risk management as both an offensive and defensive tool
  • Build a strong team of skilled investors who excel on behalf of our clients
Risk [Heading] rr_RiskHeading Principal Risks of the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.

CPIU Measurement Risk.  The CPIU is a measurement of changes in the cost of living, made up of components such as housing, food, transportation and energy. There can be no assurance that the CPIU will accurately measure the real rate of inflation in the prices of goods and services, which may affect the valuation of the Fund.

Credit/Default Risk.  An issuer or guarantor of fixed income securities or instruments held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant deterioration in net asset value (“NAV”).

Deflation Risk.  The Fund will be subject to the risk that prices throughout the economy may decline over time, resulting in “deflation.” If this occurs, the principal and income of IPS held by the Fund would likely decline in price, which could result in losses for the Fund.

Derivatives Risk.  The Fund’s use of futures and inflation-linked swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the SEC proposed new regulations relating to a mutual fund’s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund’s ability to invest in derivatives and other instruments and adversely affect the Fund’s performance and ability to pursue its investment objectives.

Inflation Protected Securities Risk.  The value of IPS generally fluctuates in response to changes in real interest rates, which are in turn tied to the relationship between nominal interest rates and the rate of inflation. If nominal interest rates increased at a faster rate than inflation, real interest rates might rise, leading to a decrease in the value of IPS. The market for IPS may be less developed or liquid, and more volatile, than certain other securities markets.

Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.

Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.

Tax Consequences Risk.  The Fund will be subject to the risk that adjustments for inflation to the principal amount of an inflation indexed bond may give rise to original issue discount, which will be includable in the Fund’s gross income.

U.S. Government Securities Risk.  The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by those agencies, instrumentalities and government sponsored enterprises, including those issued by the Federal National Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and the Federal Home Loan Banks, are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources including any legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future.
Risk Lose Money [Text] rr_RiskLoseMoney Loss of money is a risk of investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Investor, Class R, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Investor, Class R, Class R6 and Class T Shares compare to those of a broad-based securities market index.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess As of the date of the Prospectus, Class T Shares have not commenced operations.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.gsamfunds.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The total return for Class A Shares for the six-month
period ended June 30, 2017 was 0.62%.

Best Quarter
Q1 ‘08              +5.99%

Worst Quarter
Q2 ‘13              –6.91%
Performance Table Heading rr_PerformanceTableHeading AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Performance Table Does Reflect Sales Loads rr_PerformanceTableDoesReflectSalesLoads Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Goldman Sachs Inflation Protected Securities Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 3.75%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.26% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.26%
Other Expenses rr_OtherExpensesOverAssets 0.26% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.77%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.09%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.68% [5]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 100,000
1 Year rr_ExpenseExampleYear01 442
3 Years rr_ExpenseExampleYear03 603
5 Years rr_ExpenseExampleYear05 778
10 Years rr_ExpenseExampleYear10 $ 1,285
2008 rr_AnnualReturn2008 (1.37%)
2009 rr_AnnualReturn2009 10.36%
2010 rr_AnnualReturn2010 5.94%
2011 rr_AnnualReturn2011 13.22%
2012 rr_AnnualReturn2012 6.68%
2013 rr_AnnualReturn2013 (8.77%)
2014 rr_AnnualReturn2014 2.81%
2015 rr_AnnualReturn2015 (2.13%)
2016 rr_AnnualReturn2016 4.46%
Year to Date Return, Label rr_YearToDateReturnLabel total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 0.62%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2008
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 5.99%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Jun. 30, 2013
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (6.91%)
1 Year rr_AverageAnnualReturnYear01 0.55%
5 Years rr_AverageAnnualReturnYear05 (0.30%)
Since Inception rr_AverageAnnualReturnSinceInception 3.34%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 31, 2007
Goldman Sachs Inflation Protected Securities Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Management Fees rr_ManagementFeesOverAssets 0.26% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
All Other Expenses rr_Component3OtherExpensesOverAssets 0.27%
Other Expenses rr_OtherExpensesOverAssets 0.52% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.53%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.10%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.43% [5]
1 Year rr_ExpenseExampleYear01 $ 246
3 Years rr_ExpenseExampleYear03 474
5 Years rr_ExpenseExampleYear05 825
10 Years rr_ExpenseExampleYear10 1,815
1 Year rr_ExpenseExampleNoRedemptionYear01 146
3 Years rr_ExpenseExampleNoRedemptionYear03 474
5 Years rr_ExpenseExampleNoRedemptionYear05 825
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,815
1 Year rr_AverageAnnualReturnYear01 2.64%
5 Years rr_AverageAnnualReturnYear05 (0.26%)
Since Inception rr_AverageAnnualReturnSinceInception 3.04%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 31, 2007
Goldman Sachs Inflation Protected Securities Fund | Institutional  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.26% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.17%
Other Expenses rr_OtherExpensesOverAssets 0.17% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.43%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.09%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.34% [5]
1 Year rr_ExpenseExampleYear01 $ 35
3 Years rr_ExpenseExampleYear03 129
5 Years rr_ExpenseExampleYear05 232
10 Years rr_ExpenseExampleYear10 $ 533
1 Year rr_AverageAnnualReturnYear01 4.84%
5 Years rr_AverageAnnualReturnYear05 0.83%
Since Inception rr_AverageAnnualReturnSinceInception 4.16%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 31, 2007
Goldman Sachs Inflation Protected Securities Fund | Investor  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.26% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.26%
Other Expenses rr_OtherExpensesOverAssets 0.26% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.52%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.09%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.43% [5]
1 Year rr_ExpenseExampleYear01 $ 44
3 Years rr_ExpenseExampleYear03 158
5 Years rr_ExpenseExampleYear05 282
10 Years rr_ExpenseExampleYear10 $ 644
1 Year rr_AverageAnnualReturnYear01 4.71%
5 Years rr_AverageAnnualReturnYear05 0.70%
Since Inception rr_AverageAnnualReturnSinceInception 3.46%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2007
Goldman Sachs Inflation Protected Securities Fund | Class R  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.26% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.26%
Other Expenses rr_OtherExpensesOverAssets 0.26% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.02%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.09%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.93% [5]
1 Year rr_ExpenseExampleYear01 $ 95
3 Years rr_ExpenseExampleYear03 316
5 Years rr_ExpenseExampleYear05 555
10 Years rr_ExpenseExampleYear10 $ 1,240
1 Year rr_AverageAnnualReturnYear01 4.18%
5 Years rr_AverageAnnualReturnYear05 0.22%
Since Inception rr_AverageAnnualReturnSinceInception 2.97%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2007
Goldman Sachs Inflation Protected Securities Fund | Class R6  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.26% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.15%
Other Expenses rr_OtherExpensesOverAssets 0.15% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.41%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.08%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.33% [5]
1 Year rr_ExpenseExampleYear01 $ 34
3 Years rr_ExpenseExampleYear03 124
5 Years rr_ExpenseExampleYear05 222
10 Years rr_ExpenseExampleYear10 $ 510
1 Year rr_AverageAnnualReturnYear01 4.76% [6]
5 Years rr_AverageAnnualReturnYear05 0.81% [6]
Since Inception rr_AverageAnnualReturnSinceInception 4.15% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [6]
Goldman Sachs Inflation Protected Securities Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.26% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.26%
Other Expenses rr_OtherExpensesOverAssets 0.26% [3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.77%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.09%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.68% [5]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
1 Year rr_ExpenseExampleYear01 318
3 Years rr_ExpenseExampleYear03 481
5 Years rr_ExpenseExampleYear05 659
10 Years rr_ExpenseExampleYear10 $ 1,172
1 Year rr_AverageAnnualReturnYear01 0.55% [7]
5 Years rr_AverageAnnualReturnYear05 (0.30%) [7]
Since Inception rr_AverageAnnualReturnSinceInception 3.34% [7]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [7]
Goldman Sachs Inflation Protected Securities Fund | Returns After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.10%
5 Years rr_AverageAnnualReturnYear05 (1.02%)
Since Inception rr_AverageAnnualReturnSinceInception 2.13%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 31, 2007
Goldman Sachs Inflation Protected Securities Fund | Returns After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.32%
5 Years rr_AverageAnnualReturnYear05 (0.50%)
Since Inception rr_AverageAnnualReturnSinceInception 2.17%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 31, 2007
Goldman Sachs Inflation Protected Securities Fund | Bloomberg Barclays U.S. TIPS Index (reflects no deduction for fees or expenses) | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 4.67%
5 Years rr_AverageAnnualReturnYear05 0.89%
Since Inception rr_AverageAnnualReturnSinceInception 4.14%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 31, 2007
Goldman Sachs Inflation Protected Securities Fund | Bloomberg Barclays U.S. TIPS Index (reflects no deduction for fees or expenses) | Class C  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 4.67%
5 Years rr_AverageAnnualReturnYear05 0.89%
Since Inception rr_AverageAnnualReturnSinceInception 4.14%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 31, 2007
Goldman Sachs Inflation Protected Securities Fund | Bloomberg Barclays U.S. TIPS Index (reflects no deduction for fees or expenses) | Institutional  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 4.67%
5 Years rr_AverageAnnualReturnYear05 0.89%
Since Inception rr_AverageAnnualReturnSinceInception 4.14%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 31, 2007
Goldman Sachs Inflation Protected Securities Fund | Bloomberg Barclays U.S. TIPS Index (reflects no deduction for fees or expenses) | Investor  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 4.67%
5 Years rr_AverageAnnualReturnYear05 0.89%
Since Inception rr_AverageAnnualReturnSinceInception 3.53%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2007
Goldman Sachs Inflation Protected Securities Fund | Bloomberg Barclays U.S. TIPS Index (reflects no deduction for fees or expenses) | Class R  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 4.67%
5 Years rr_AverageAnnualReturnYear05 0.89%
Since Inception rr_AverageAnnualReturnSinceInception 3.53%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2007
Goldman Sachs Inflation Protected Securities Fund | Bloomberg Barclays U.S. TIPS Index (reflects no deduction for fees or expenses) | Class R6  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 4.67% [6]
5 Years rr_AverageAnnualReturnYear05 0.89% [6]
Since Inception rr_AverageAnnualReturnSinceInception 4.14% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [6]
Goldman Sachs Inflation Protected Securities Fund | Bloomberg Barclays U.S. TIPS Index (reflects no deduction for fees or expenses) | Class T  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 4.67% [7]
5 Years rr_AverageAnnualReturnYear05 0.89% [7]
Since Inception rr_AverageAnnualReturnSinceInception 4.14% [7]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [7]
[1] A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase.
[2] The Fund's "Management Fees" have been restated to reflect current fees.
[3] The "Other Expenses" for Class R6 Shares have been restated and the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[4] The Investment Adviser has agreed to: (i) waive a portion of its management fee payable by the Fund in an amount equal to any management fees it earns as an investment adviser to any of the affiliated funds in which the Fund invests; and (ii) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.044% of the Fund's average daily net assets. These arrangements will remain in effect through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangements without the approval of the Board of Trustees.
[5] After Fee Waiver and Expense Limitation
[6] Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of the Class R6 Shares shown in the table above is that of the Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses.
[7] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
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Goldman Sachs Government Income Fund
Goldman Sachs Government Income Fund—Summary
Investment Objective
The Goldman Sachs Government Income Fund (the “Fund”) seeks a high level of current income, consistent with safety of principal.
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 59 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 63 and in “Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts” on page 106 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees
(fees paid directly from your investment):
Shareholder Fees - Goldman Sachs Government Income Fund
Class A
Class C
Institutional
Service
Investor
Class R
Class R6
Class T
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 3.75% none none none none none none 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) [1] none 1.00% none none none none none none
[1] A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase.
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment):
Annual Fund Operating Expenses - Goldman Sachs Government Income Fund
Class A
Class C
Institutional
Service
Investor
Class R
Class R6
Class T
Management Fees [1] 0.53% 0.53% 0.53% 0.53% 0.53% 0.53% 0.53% 0.53%
Distribution and/or Service (12b-1) Fees 0.25% 0.75% none 0.25% none 0.50% none 0.25%
Other Expenses [2] 0.27% 0.52% 0.18% 0.43% 0.27% 0.27% 0.16% 0.27%
Service Fees none 0.25% none none none none none none
Shareholder Administration Fees none none none 0.25% none none none none
All Other Expenses 0.27% 0.27% 0.18% 0.18% 0.27% 0.27% 0.16% 0.27%
Acquired Fund Fees and Expenses 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
Total Annual Fund Operating Expenses 1.06% 1.81% 0.72% 1.22% 0.81% 1.31% 0.70% 1.06%
Fee Waiver and Expense Limitation [3] (0.14%) (0.14%) (0.14%) (0.14%) (0.14%) (0.14%) (0.14%) (0.14%)
Total Annual Fund Operating Expenses [4] 0.92% 1.67% 0.58% 1.08% 0.67% 1.17% 0.56% 0.92%
[1] The Fund's "Management Fees" have been restated to reflect current fees.
[2] The "Other Expenses" for Class R6 Shares have been restated and the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[3] The Investment Adviser has agreed to: (i) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, shareholder administration fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.004% of the Fund's average daily net assets; and (ii) waive a portion of its management fee payable by the Fund in an amount equal to any management fee it earns as an investment adviser to any of the affiliated funds in which the Fund invests. These arrangements will remain in effect through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangements without the approval of the Board of Trustees.
[4] After Fee Waiver and Expense Limitation
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Assuming complete redemption at end of period
Expense Example - Goldman Sachs Government Income Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A Shares 465 686 925 1,608
Class C Shares 270 556 967 2,115
Institutional Shares 59 216 387 881
Service Shares 110 373 657 1,465
Investor Shares 68 245 436 989
Class R Shares 119 401 705 1,567
Class R6 Shares 57 210 376 857
Class T Shares 342 565 807 1,499
Assuming no redemption
Expense Example, No Redemption
1 Year
3 Years
5 Years
10 Years
Goldman Sachs Government Income Fund | Class C Shares | USD ($) 170 556 967 2,115
Portfolio Turnover
The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 441% of the average value of its portfolio.
Principal Strategy
The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in securities issued or guaranteed by the U.S. Government, its agencies, instrumentalities or sponsored enterprises (“U.S. Government Securities”) and in repurchase agreements collateralized by such securities. The remainder of the Fund’s Net Assets may be invested in non-government securities such as privately issued adjustable rate and fixed rate mortgage loans or other mortgage-related securities (“Mortgage-Backed Securities”), asset-backed securities and corporate securities. The Fund also intends to invest in derivatives, including (but not limited to) futures, swaps, options on swaps and other derivative instruments, which are used primarily to hedge the Fund’s portfolio risks, manage the Fund’s duration and/or gain exposure to certain fixed income securities. 100% of the Fund’s portfolio will be invested in U.S. dollar-denominated securities.

The Fund’s investments in non-U.S. Government Securities must be rated AAA or Aaa by a nationally recognized statistical rating organization (“NRSRO”) at the time of purchase, or, if unrated, must be determined by the Investment Adviser to be of comparable credit quality. The Fund’s target duration range under normal interest rate conditions is expected to approximate that of the Bloomberg Barclays U.S. Government/Mortgage Index, plus or minus one year, and over the past five years ended June 30, 2017, the duration of this index has ranged between 3.94 and 5.34 years. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

The Fund’s benchmark index is the Bloomberg Barclays U.S. Government/Mortgage Index.

GSAM’s Fixed Income Investing Philosophy:

Global fixed income markets are constantly evolving and are highly diverse—with a large number of countries, currencies, sectors, issuers and securities. We believe that inefficiencies in these complex markets cause bond prices to diverge from their fair value. To capitalize on these inefficiencies and generate consistent risk-adjusted performance, we believe it is critical to:
  • Thoughtfully combine diversified sources of return by employing multiple strategies
  • Take a global perspective to uncover relative value opportunities
  • Employ focused specialist teams to identify short-term mis-pricings and incorporate long-term views
  • Emphasize a risk-aware approach as we view risk management as both an offensive and defensive tool
  • Build a strong team of skilled investors who excel on behalf of our clients
Principal Risks of the Fund
Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.

Call/Prepayment Risk.  An issuer could exercise its right to pay principal on an obligation held by the Fund (such as a Mortgage-Backed Security) earlier than expected. This may happen when there is a decline in interest rates, when credit spreads change, or when an issuer’s credit quality improves. Under these circumstances, the Fund may be unable to recoup all of its initial investment and will also suffer from having to reinvest in lower-yielding securities.

Credit/Default Risk.  An issuer or guarantor of fixed income securities or instruments held by the Fund may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant deterioration in net asset value (“NAV”).

Derivatives Risk.  The Fund’s use of futures, swaps, options on swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the Securities and Exchange Commission (“SEC”) proposed new regulations relating to a mutual fund’s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact a Fund’s ability to invest in derivatives and other instruments and adversely affect such Fund’s performance and ability to pursue its investment objectives.

Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.

Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.

Mortgage-Backed and/or Other Asset-Backed Securities Risk.  Mortgage-related and other asset-backed securities are subject to certain additional risks, including “extension risk” (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and “prepayment risk” (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Mortgage-Backed Securities offered by non-governmental issuers are subject to other risks as well, including failures of private insurers to meet their obligations and unexpectedly high rates of default on the mortgages backing the securities. Other asset-backed securities are subject to risks similar to those associated with Mortgage-Backed Securities, as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.

U.S. Government Securities Risk.  The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by those agencies, instrumentalities and government sponsored enterprises, including those issued by the Federal National Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including any legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future.
Performance
The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart
The total return for Class A Shares for the six-month
period ended June 30, 2017 was 1.39%.

Best Quarter
Q4 ‘08              +4.00%

Worst Quarter
Q4 ‘16              –2.86%
AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Average Annual Total Returns - Goldman Sachs Government Income Fund
1 Year
5 Years
10 Years
Since Inception
Inception Date
Class A Shares (2.71%) 0.30% 2.89% 4.65% Feb. 10, 1993
Class A Shares | Returns After Taxes on Distributions (3.40%) (0.48%) 1.75% 2.88% Feb. 10, 1993
Class A Shares | Returns After Taxes on Distributions and Sale of Fund Shares (1.52%) (0.05%) 1.84% 2.89% Feb. 10, 1993
Class A Shares | Bloomberg Barclays U.S. Government/Mortgage Index (reflects no deduction for fees or expenses) 1.30% 1.57% 4.04% 5.25% Feb. 10, 1993
Class C Shares (0.70%) 0.33% 2.52% 3.58% Aug. 15, 1997
Class C Shares | Bloomberg Barclays U.S. Government/Mortgage Index (reflects no deduction for fees or expenses) 1.30% 1.57% 4.04% 4.96% Aug. 15, 1997
Institutional Shares 1.39% 1.41% 3.64% 4.73% Aug. 15, 1997
Institutional Shares | Bloomberg Barclays U.S. Government/Mortgage Index (reflects no deduction for fees or expenses) 1.30% 1.57% 4.04% 4.96% Aug. 15, 1997
Service Shares 0.88% 0.89% 3.12% 4.20% Aug. 15, 1997
Service Shares | Bloomberg Barclays U.S. Government/Mortgage Index (reflects no deduction for fees or expenses) 1.30% 1.57% 4.04% 4.96% Aug. 15, 1997
Investor Shares 1.30% 1.31% 3.15% Nov. 30, 2007
Investor Shares | Bloomberg Barclays U.S. Government/Mortgage Index (reflects no deduction for fees or expenses) 1.30% 1.57% 3.63% Nov. 30, 2007
Class R Shares 0.80% 0.80% 2.66% Nov. 30, 2007
Class R Shares | Bloomberg Barclays U.S. Government/Mortgage Index (reflects no deduction for fees or expenses) 1.30% 1.57% 3.63% Nov. 30, 2007
Class R6 Shares [1] 1.41% 1.40% 3.63% 4.73% Jul. 31, 2015
Class R6 Shares | Bloomberg Barclays U.S. Government/Mortgage Index (reflects no deduction for fees or expenses) [1] 1.30% 1.57% 4.04% 4.96% Jul. 31, 2015
Class T Shares [2] (2.71%) 0.30% 2.89% 4.65% Jul. 28, 2017
Class T Shares | Bloomberg Barclays U.S. Government/Mortgage Index (reflects no deduction for fees or expenses) [2] 1.30% 1.57% 4.04% 5.25% Jul. 28, 2017
[1] Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of the Class R6 Shares shown in the table above is that of the Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses.
[2] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

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Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName GOLDMAN SACHS TRUST
Prospectus Date rr_ProspectusDate Jul. 28, 2017
Goldman Sachs Government Income Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Goldman Sachs Government Income Fund—Summary
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Goldman Sachs Government Income Fund (the “Fund”) seeks a high level of current income, consistent with safety of principal.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 59 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 63 and in “Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts” on page 106 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees
(fees paid directly from your investment):
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment):
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination July 28, 2018
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 441% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 441.00%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 59 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 63 and in “Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts” on page 106 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent The Fund's "Management Fees" have been restated to reflect current fees.

The "Other Expenses" for Class R6 Shares have been restated
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and/or Class T Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption Assuming complete redemption at end of period
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption Assuming no redemption
Strategy [Heading] rr_StrategyHeading Principal Strategy
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in securities issued or guaranteed by the U.S. Government, its agencies, instrumentalities or sponsored enterprises (“U.S. Government Securities”) and in repurchase agreements collateralized by such securities. The remainder of the Fund’s Net Assets may be invested in non-government securities such as privately issued adjustable rate and fixed rate mortgage loans or other mortgage-related securities (“Mortgage-Backed Securities”), asset-backed securities and corporate securities. The Fund also intends to invest in derivatives, including (but not limited to) futures, swaps, options on swaps and other derivative instruments, which are used primarily to hedge the Fund’s portfolio risks, manage the Fund’s duration and/or gain exposure to certain fixed income securities. 100% of the Fund’s portfolio will be invested in U.S. dollar-denominated securities.

The Fund’s investments in non-U.S. Government Securities must be rated AAA or Aaa by a nationally recognized statistical rating organization (“NRSRO”) at the time of purchase, or, if unrated, must be determined by the Investment Adviser to be of comparable credit quality. The Fund’s target duration range under normal interest rate conditions is expected to approximate that of the Bloomberg Barclays U.S. Government/Mortgage Index, plus or minus one year, and over the past five years ended June 30, 2017, the duration of this index has ranged between 3.94 and 5.34 years. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

The Fund’s benchmark index is the Bloomberg Barclays U.S. Government/Mortgage Index.

GSAM’s Fixed Income Investing Philosophy:

Global fixed income markets are constantly evolving and are highly diverse—with a large number of countries, currencies, sectors, issuers and securities. We believe that inefficiencies in these complex markets cause bond prices to diverge from their fair value. To capitalize on these inefficiencies and generate consistent risk-adjusted performance, we believe it is critical to:
  • Thoughtfully combine diversified sources of return by employing multiple strategies
  • Take a global perspective to uncover relative value opportunities
  • Employ focused specialist teams to identify short-term mis-pricings and incorporate long-term views
  • Emphasize a risk-aware approach as we view risk management as both an offensive and defensive tool
  • Build a strong team of skilled investors who excel on behalf of our clients
Risk [Heading] rr_RiskHeading Principal Risks of the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.

Call/Prepayment Risk.  An issuer could exercise its right to pay principal on an obligation held by the Fund (such as a Mortgage-Backed Security) earlier than expected. This may happen when there is a decline in interest rates, when credit spreads change, or when an issuer’s credit quality improves. Under these circumstances, the Fund may be unable to recoup all of its initial investment and will also suffer from having to reinvest in lower-yielding securities.

Credit/Default Risk.  An issuer or guarantor of fixed income securities or instruments held by the Fund may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant deterioration in net asset value (“NAV”).

Derivatives Risk.  The Fund’s use of futures, swaps, options on swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligation. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the Securities and Exchange Commission (“SEC”) proposed new regulations relating to a mutual fund’s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact a Fund’s ability to invest in derivatives and other instruments and adversely affect such Fund’s performance and ability to pursue its investment objectives.

Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.

Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.

Mortgage-Backed and/or Other Asset-Backed Securities Risk.  Mortgage-related and other asset-backed securities are subject to certain additional risks, including “extension risk” (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and “prepayment risk” (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Mortgage-Backed Securities offered by non-governmental issuers are subject to other risks as well, including failures of private insurers to meet their obligations and unexpectedly high rates of default on the mortgages backing the securities. Other asset-backed securities are subject to risks similar to those associated with Mortgage-Backed Securities, as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.

U.S. Government Securities Risk.  The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by those agencies, instrumentalities and government sponsored enterprises, including those issued by the Federal National Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including any legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future.
Risk Lose Money [Text] rr_RiskLoseMoney Loss of money is a risk of investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Service, Investor, Class R, Class R6 and Class T Shares compare to those of a broad-based securities market index.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess As of the date of the Prospectus, Class T Shares have not commenced operations.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.gsamfunds.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class A Shares. If the sales loads were reflected, returns would be less.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The total return for Class A Shares for the six-month
period ended June 30, 2017 was 1.39%.

Best Quarter
Q4 ‘08              +4.00%

Worst Quarter
Q4 ‘16              –2.86%
Performance Table Heading rr_PerformanceTableHeading AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Performance Table Does Reflect Sales Loads rr_PerformanceTableDoesReflectSalesLoads Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor's tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Service, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Goldman Sachs Government Income Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 3.75%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.53% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.27%
Other Expenses rr_OtherExpensesOverAssets 0.27% [3]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.06%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.14%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.92% [5]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 100,000
1 Year rr_ExpenseExampleYear01 465
3 Years rr_ExpenseExampleYear03 686
5 Years rr_ExpenseExampleYear05 925
10 Years rr_ExpenseExampleYear10 $ 1,608
2007 rr_AnnualReturn2007 6.90%
2008 rr_AnnualReturn2008 4.99%
2009 rr_AnnualReturn2009 4.61%
2010 rr_AnnualReturn2010 4.82%
2011 rr_AnnualReturn2011 6.48%
2012 rr_AnnualReturn2012 2.52%
2013 rr_AnnualReturn2013 (2.50%)
2014 rr_AnnualReturn2014 4.10%
2015 rr_AnnualReturn2015 0.30%
2016 rr_AnnualReturn2016 1.05%
Year to Date Return, Label rr_YearToDateReturnLabel total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 1.39%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Dec. 31, 2008
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 4.00%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2016
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (2.86%)
1 Year rr_AverageAnnualReturnYear01 (2.71%)
5 Years rr_AverageAnnualReturnYear05 0.30%
10 Years rr_AverageAnnualReturnYear10 2.89%
Since Inception rr_AverageAnnualReturnSinceInception 4.65%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 10, 1993
Goldman Sachs Government Income Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Management Fees rr_ManagementFeesOverAssets 0.53% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.27%
Other Expenses rr_OtherExpensesOverAssets 0.52% [3]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.81%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.14%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.67% [5]
1 Year rr_ExpenseExampleYear01 $ 270
3 Years rr_ExpenseExampleYear03 556
5 Years rr_ExpenseExampleYear05 967
10 Years rr_ExpenseExampleYear10 2,115
1 Year rr_ExpenseExampleNoRedemptionYear01 170
3 Years rr_ExpenseExampleNoRedemptionYear03 556
5 Years rr_ExpenseExampleNoRedemptionYear05 967
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,115
1 Year rr_AverageAnnualReturnYear01 (0.70%)
5 Years rr_AverageAnnualReturnYear05 0.33%
10 Years rr_AverageAnnualReturnYear10 2.52%
Since Inception rr_AverageAnnualReturnSinceInception 3.58%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 15, 1997
Goldman Sachs Government Income Fund | Institutional  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.53% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.18%
Other Expenses rr_OtherExpensesOverAssets 0.18% [3]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.72%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.14%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.58% [5]
1 Year rr_ExpenseExampleYear01 $ 59
3 Years rr_ExpenseExampleYear03 216
5 Years rr_ExpenseExampleYear05 387
10 Years rr_ExpenseExampleYear10 $ 881
1 Year rr_AverageAnnualReturnYear01 1.39%
5 Years rr_AverageAnnualReturnYear05 1.41%
10 Years rr_AverageAnnualReturnYear10 3.64%
Since Inception rr_AverageAnnualReturnSinceInception 4.73%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 15, 1997
Goldman Sachs Government Income Fund | Service  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.53% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets 0.25%
All Other Expenses rr_Component3OtherExpensesOverAssets 0.18%
Other Expenses rr_OtherExpensesOverAssets 0.43% [3]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.22%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.14%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.08% [5]
1 Year rr_ExpenseExampleYear01 $ 110
3 Years rr_ExpenseExampleYear03 373
5 Years rr_ExpenseExampleYear05 657
10 Years rr_ExpenseExampleYear10 $ 1,465
1 Year rr_AverageAnnualReturnYear01 0.88%
5 Years rr_AverageAnnualReturnYear05 0.89%
10 Years rr_AverageAnnualReturnYear10 3.12%
Since Inception rr_AverageAnnualReturnSinceInception 4.20%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 15, 1997
Goldman Sachs Government Income Fund | Investor  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.53% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.27%
Other Expenses rr_OtherExpensesOverAssets 0.27% [3]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.81%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.14%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.67% [5]
1 Year rr_ExpenseExampleYear01 $ 68
3 Years rr_ExpenseExampleYear03 245
5 Years rr_ExpenseExampleYear05 436
10 Years rr_ExpenseExampleYear10 $ 989
1 Year rr_AverageAnnualReturnYear01 1.30%
5 Years rr_AverageAnnualReturnYear05 1.31%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 3.15%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2007
Goldman Sachs Government Income Fund | Class R  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.53% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.27%
Other Expenses rr_OtherExpensesOverAssets 0.27% [3]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.31%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.14%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.17% [5]
1 Year rr_ExpenseExampleYear01 $ 119
3 Years rr_ExpenseExampleYear03 401
5 Years rr_ExpenseExampleYear05 705
10 Years rr_ExpenseExampleYear10 $ 1,567
1 Year rr_AverageAnnualReturnYear01 0.80%
5 Years rr_AverageAnnualReturnYear05 0.80%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 2.66%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2007
Goldman Sachs Government Income Fund | Class R6  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.53% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.16%
Other Expenses rr_OtherExpensesOverAssets 0.16% [3]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.70%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.14%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.56% [5]
1 Year rr_ExpenseExampleYear01 $ 57
3 Years rr_ExpenseExampleYear03 210
5 Years rr_ExpenseExampleYear05 376
10 Years rr_ExpenseExampleYear10 $ 857
1 Year rr_AverageAnnualReturnYear01 1.41% [6]
5 Years rr_AverageAnnualReturnYear05 1.40% [6]
10 Years rr_AverageAnnualReturnYear10 3.63% [6]
Since Inception rr_AverageAnnualReturnSinceInception 4.73% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [6]
Goldman Sachs Government Income Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.53% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
Shareholder Administration Fees rr_Component2OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.27%
Other Expenses rr_OtherExpensesOverAssets 0.27% [3]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.06%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.14%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.92% [5]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
1 Year rr_ExpenseExampleYear01 342
3 Years rr_ExpenseExampleYear03 565
5 Years rr_ExpenseExampleYear05 807
10 Years rr_ExpenseExampleYear10 $ 1,499
1 Year rr_AverageAnnualReturnYear01 (2.71%) [7]
5 Years rr_AverageAnnualReturnYear05 0.30% [7]
10 Years rr_AverageAnnualReturnYear10 2.89% [7]
Since Inception rr_AverageAnnualReturnSinceInception 4.65% [7]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [7]
Goldman Sachs Government Income Fund | Returns After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (3.40%)
5 Years rr_AverageAnnualReturnYear05 (0.48%)
10 Years rr_AverageAnnualReturnYear10 1.75%
Since Inception rr_AverageAnnualReturnSinceInception 2.88%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 10, 1993
Goldman Sachs Government Income Fund | Returns After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (1.52%)
5 Years rr_AverageAnnualReturnYear05 (0.05%)
10 Years rr_AverageAnnualReturnYear10 1.84%
Since Inception rr_AverageAnnualReturnSinceInception 2.89%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 10, 1993
Goldman Sachs Government Income Fund | Bloomberg Barclays U.S. Government/Mortgage Index (reflects no deduction for fees or expenses) | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.30%
5 Years rr_AverageAnnualReturnYear05 1.57%
10 Years rr_AverageAnnualReturnYear10 4.04%
Since Inception rr_AverageAnnualReturnSinceInception 5.25%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 10, 1993
Goldman Sachs Government Income Fund | Bloomberg Barclays U.S. Government/Mortgage Index (reflects no deduction for fees or expenses) | Class C  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.30%
5 Years rr_AverageAnnualReturnYear05 1.57%
10 Years rr_AverageAnnualReturnYear10 4.04%
Since Inception rr_AverageAnnualReturnSinceInception 4.96%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 15, 1997
Goldman Sachs Government Income Fund | Bloomberg Barclays U.S. Government/Mortgage Index (reflects no deduction for fees or expenses) | Institutional  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.30%
5 Years rr_AverageAnnualReturnYear05 1.57%
10 Years rr_AverageAnnualReturnYear10 4.04%
Since Inception rr_AverageAnnualReturnSinceInception 4.96%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 15, 1997
Goldman Sachs Government Income Fund | Bloomberg Barclays U.S. Government/Mortgage Index (reflects no deduction for fees or expenses) | Service  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.30%
5 Years rr_AverageAnnualReturnYear05 1.57%
10 Years rr_AverageAnnualReturnYear10 4.04%
Since Inception rr_AverageAnnualReturnSinceInception 4.96%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 15, 1997
Goldman Sachs Government Income Fund | Bloomberg Barclays U.S. Government/Mortgage Index (reflects no deduction for fees or expenses) | Investor  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.30%
5 Years rr_AverageAnnualReturnYear05 1.57%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 3.63%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2007
Goldman Sachs Government Income Fund | Bloomberg Barclays U.S. Government/Mortgage Index (reflects no deduction for fees or expenses) | Class R  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.30%
5 Years rr_AverageAnnualReturnYear05 1.57%
10 Years rr_AverageAnnualReturnYear10
Since Inception rr_AverageAnnualReturnSinceInception 3.63%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 30, 2007
Goldman Sachs Government Income Fund | Bloomberg Barclays U.S. Government/Mortgage Index (reflects no deduction for fees or expenses) | Class R6  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.30% [6]
5 Years rr_AverageAnnualReturnYear05 1.57% [6]
10 Years rr_AverageAnnualReturnYear10 4.04% [6]
Since Inception rr_AverageAnnualReturnSinceInception 4.96% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [6]
Goldman Sachs Government Income Fund | Bloomberg Barclays U.S. Government/Mortgage Index (reflects no deduction for fees or expenses) | Class T  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.30% [7]
5 Years rr_AverageAnnualReturnYear05 1.57% [7]
10 Years rr_AverageAnnualReturnYear10 4.04% [7]
Since Inception rr_AverageAnnualReturnSinceInception 5.25% [7]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [7]
[1] A contingent deferred sales charge ("CDSC") of 1% is imposed on Class C Shares redeemed within 12 months of purchase.
[2] The Fund's "Management Fees" have been restated to reflect current fees.
[3] The "Other Expenses" for Class R6 Shares have been restated and the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[4] The Investment Adviser has agreed to: (i) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, shareholder administration fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.004% of the Fund's average daily net assets; and (ii) waive a portion of its management fee payable by the Fund in an amount equal to any management fee it earns as an investment adviser to any of the affiliated funds in which the Fund invests. These arrangements will remain in effect through at least July 28, 2018, and prior to such date the Investment Adviser may not terminate the arrangements without the approval of the Board of Trustees.
[5] After Fee Waiver and Expense Limitation
[6] Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of the Class R6 Shares shown in the table above is that of the Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses.
[7] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
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Goldman Sachs Short Duration Income Fund
Goldman Sachs Short Duration Income Fund—Summary
Investment Objective
The Goldman Sachs Short Duration Income Fund (the “Fund”) seeks total return consisting of income and capital appreciation.
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $500,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 59 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 63 and in “Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts” on page 106 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees
(fees paid directly from your investment):
Shareholder Fees - Goldman Sachs Short Duration Income Fund
Class A
Class C
Institutional
Investor
Class R
Class R6
Class T
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 1.50% none none none none none 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) [1] none 0.65% none none none none none
[1] A contingent deferred sales charge ("CDSC") of 0.65% is imposed on Class C Shares redeemed within 12 months of purchase.
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment):
Annual Fund Operating Expenses - Goldman Sachs Short Duration Income Fund
Class A
Class C
Institutional
Investor
Class R
Class R6
Class T
Management Fees 0.40% 0.40% 0.40% 0.40% 0.40% 0.40% 0.40%
Distribution and/or Service (12b-1) Fees 0.25% 0.75% none none 0.50% none 0.25%
Other Expenses [1] 0.25% 0.50% 0.16% 0.25% 0.25% 0.15% 0.25%
Service Fees none 0.25% none none none none none
All Other Expenses 0.25% 0.25% 0.16% 0.25% 0.25% 0.15% 0.25%
Total Annual Fund Operating Expenses 0.90% 1.65% 0.56% 0.65% 1.15% 0.55% 0.90%
Fee Waiver and Expense Limitation [2] (0.11%) (0.46%) (0.11%) (0.11%) (0.11%) (0.10%) (0.11%)
Total Annual Fund Operating Expenses [3] 0.79% 1.19% 0.45% 0.54% 1.04% 0.45% 0.79%
[1] The "Other Expenses" for Class R6 Shares have been restated and the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[2] The Investment Adviser has agreed to: (i) waive a portion of its management fee payable by the Fund in an amount equal to any management fees it earns as an investment adviser to any of the affiliated funds in which the Fund invests; and (ii) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.014% of the Fund's average daily net assets. In addition, Goldman Sachs & Co. LLC ("Goldman Sachs") has agreed to waive a portion of the distribution (12b-1) and service fees equal to 0.35% of the average daily net assets attributable to Class C Shares of the Fund. These arrangements will remain in effect through at least July 28, 2018, and prior to such date, the Investment Adviser or Goldman Sachs (as applicable) may not terminate the arrangement without the approval of the Board of Trustees.
[3] After Fee Waiver and Expense Limitation
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Investor, Class R, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Investor, Class R, Class R6 and/or Class T Shares at the end of those periods, unless otherwise stated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Assuming complete redemption at end of period
Expense Example - Goldman Sachs Short Duration Income Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A Shares 229 422 630 1,231
Class C Shares 186 475 854 1,916
Institutional Shares 46 168 302 691
Investor Shares 55 197 351 800
Class R Shares 106 354 622 1,388
Class R6 Shares 46 166 297 680
Class T Shares 329 519 726 1,320
Assuming no redemption
Expense Example, No Redemption
1 Year
3 Years
5 Years
10 Years
Goldman Sachs Short Duration Income Fund | Class C Shares | USD ($) 121 475 854 1,916
Portfolio Turnover
The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 165% of the average value of its portfolio.
Principal Strategy
The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in U.S. or foreign fixed income securities. These fixed income securities include securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises (“U.S. Government Securities”), corporate debt securities, collateralized loan obligations, agency and privately issued adjustable rate and fixed rate mortgage loans or other mortgage-related securities (“Mortgage-Backed Securities”), asset-backed securities, high yield non-investment grade fixed income securities (i.e., securities rated BB+, Ba1 or below by a nationally recognized statistical rating organization (“NRSRO”) or, if unrated, determined by the Investment Adviser to be of comparable credit quality), high yield floating rate loans (“Bank Loans”) and sovereign and corporate debt securities, and other instruments of issuers in emerging market countries (“emerging countries debt”). The Fund may also invest in fixed income securities issued by or on behalf of states, territories, and possessions of the United States (including the District of Columbia) (“Municipal Securities”) and may purchase securities of issuers in default. The Fund may seek to obtain exposure to these investments through investments in affiliated or unaffiliated investment companies including the Goldman Sachs High Yield Fund, Goldman Sachs Emerging Markets Debt Fund and Goldman Sachs Local Emerging Markets Debt Fund.

The Fund may not invest, in the aggregate, more than 20% of its total assets measured at the time of purchase (“Total Assets”) in (i) emerging countries debt and (ii) non-investment grade fixed income securities.

The Fund may engage in forward foreign currency transactions for both hedging and non-hedging purposes. The Fund may invest in obligations of domestic and foreign issuers that are denominated in currencies other than the U.S. dollar (and may also be denominated in a currency other than that associated with the issuer’s domicile).

The Fund also intends to invest in other derivative instruments, including (but not limited to) interest rate futures contracts, options (including options on futures contracts, swaps, bonds and indexes), swaps (including credit default, index, basis, total return, volatility and currency swaps) and other forward contracts. The Fund may use derivatives, instead of buying and selling debt directly, to manage duration, to gain exposure to certain securities or indexes, or to take short positions with respect to individual securities or indexes. The Fund may invest in derivatives that are not denominated in U.S. dollars.

Except as described above, the Fund invests in fixed income securities rated at least BBB- or Baa3 at the time of purchase. The Fund will deem a security to have the highest credit rating assigned to it from an NRSRO at the time of purchase, if more than one NRSRO rates the security. Unrated securities may be purchased by the Fund if they are determined by the Investment Adviser to be of comparable credit quality.

The Fund’s maximum target duration under normal interest rate conditions is expected to be approximately 3.5 years, and during the past five years ended June 30, 2017, the duration of the Goldman Sachs Short Duration Income Fund Composite Index ranged between 2.68 and 2.80 years. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

In pursuing its investment objective, the Fund uses the Goldman Sachs Short Duration Income Fund Composite Index, which is comprised of the Bloomberg Barclays U.S. 1-5 Year Corporate Bond Index (50%) and the Bloomberg Barclays U.S. 1-5 Year Government Bond Index (50%) (the “Index”) as its performance benchmark, but the Fund will not attempt to replicate the Index. The Fund may, therefore, invest in securities that are not included in the Index.

GSAM’s Fixed Income Investing Philosophy:

Global fixed income markets are constantly evolving and are highly diverse—with a large number of countries, currencies, sectors, issuers and securities. We believe that inefficiencies in these complex markets cause bond prices to diverge from their fair value. To capitalize on these inefficiencies and generate consistent risk-adjusted performance, we believe it is critical to:
  • Thoughtfully combine diversified sources of return by employing multiple strategies
  • Take a global perspective to uncover relative value opportunities
  • Employ focused specialist teams to identify short-term mis-pricings and incorporate long-term views
  • Emphasize a risk-aware approach as we view risk management as both an offensive and defensive tool
  • Build a strong team of skilled investors who excel on behalf of our clients
Principal Risks of the Fund
Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.

Call/Prepayment Risk.  An issuer could exercise its right to pay principal on an obligation held by the Fund (such as a Mortgage-Backed Security) earlier than expected. This may happen when there is a decline in interest rates, when credit spreads change, or when an issuer’s credit quality improves. Under these circumstances, the Fund may be unable to recoup all of its initial investment and will also suffer from having to reinvest in lower-yielding securities.

Counterparty Risk.  Many of the protections afforded to cleared transactions, such as the security afforded by transacting through a clearing house, might not be available in connection with over the counter (“OTC”) transactions. Therefore, in those instances in which the Fund enters into OTC transactions, the Fund will be subject to the risk that its direct counterparty will not perform its obligations under the transactions and that the Fund will sustain losses.

Credit/Default Risk.  An issuer or guarantor of fixed income securities or instruments held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant deterioration in net asset value (“NAV”). These risks are more pronounced in connection with the Fund’s investments in non-investment grade fixed income securities.

Derivatives Risk.  The Fund’s use of options, futures, forwards, swaps, options on swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk which is the risk that the other party in the transaction will not fulfill its contractual obligation. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the Securities and Exchange Commission (“SEC”) proposed new regulations relating to a mutual fund’s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact a Fund’s ability to invest in derivatives and other instruments and adversely affect such Fund’s performance and ability to pursue its investment objectives.

Expenses Risk.  By investing in pooled investment vehicles (including investment companies, exchange-traded funds and money market funds) indirectly through the Fund, the investor will incur not only a proportionate share of the expenses of the other pooled investment vehicles held by the Fund (including operating costs and investment management fees), but also expenses of the Fund.

Extension Risk.  An issuer could exercise its right to pay principal on an obligation held by the Fund (such as a Mortgage-Backed Security) later than expected. This may happen when there is a rise in interest rates. Under these circumstances, the value of the obligation will decrease, and the Fund will also suffer from the inability to invest in higher-yielding securities.

Floating and Variable Rate Obligations Risk.  For floating and variable rate obligations, there may be a lag between an actual change in the underlying interest rate benchmark and the reset time for an interest payment of such an obligation, which could harm or benefit the Fund, depending on the interest rate environment or other circumstances. In a rising interest rate environment, for example, a floating or variable rate obligation that does not reset immediately would prevent the Fund from taking full advantage of rising interest rates in a timely manner. However, in a declining interest rate environment, the Fund may benefit from a lag due to an obligation’s interest rate payment not being immediately impacted by a decline in interest rates.

Certain floating and variable rate obligations have an interest rate floor feature, which prevents the interest rate payable by the security from dropping below a specified level as compared to a reference interest rate (the “reference rate”), such as LIBOR. Such a floor protects the Fund from losses resulting from a decrease in the reference rate below the specified level. However, if the reference rate is below the floor, there will be a lag between a rise in the reference rate and a rise in the interest rate payable by the obligation, and the Fund may not benefit from increasing interest rates for a significant amount of time.

Foreign and Emerging Countries Risk.  Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls, sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. These risks may be more pronounced in connection with the Fund’s investments in securities of issuers located in emerging countries. In addition, the Fund will be subject to the risk that an issuer of non-U.S. sovereign debt or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay the principal interest when due.

Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.

Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.

Loan-Related Investments Risk.  In addition to the risks generally associated with debt investments, loan-related investments such as loan participations and assignments are subject to other risks. Although a loan obligation may be fully collateralized at the time of acquisition, the collateral may decline in value, be relatively illiquid, or lose all or substantially all of its value subsequent to investment. Many loan investments are subject to legal or contractual restrictions on resale and may be relatively illiquid and difficult to value. There is less readily available, reliable information about most loan investments than is the case for many other types of securities. Substantial increases in interest rates may cause an increase in loan obligation defaults. With respect to loan participations, the Fund may not always have direct recourse against a borrower if the borrower fails to pay scheduled principal and/or interest; may be subject to greater delays, expenses and risks than if the Fund had purchased a direct obligation of the borrower; and may be regarded as the creditor of the agent lender (rather than the borrower), subjecting the Fund to the creditworthiness of that lender as well. Investors in loans, such as the Fund, may not be entitled to rely on the anti-fraud protections of the federal securities laws, although they may be entitled to certain contractual remedies. The market for loan obligations may be subject to irregular trading activity, wide bid/ask spreads and extended trade settlement periods. Because transactions in many loans are subject to extended trade settlement periods, a Fund may not receive the proceeds from the sale of a loan for a period after the sale. As a result, sale proceeds related to the sale of loans may not be available to make additional investments or to meet a Fund’s redemption obligations for a period after the sale of the loans, and, as a result, the Fund may have to sell other investments or engage in borrowing transactions, such as borrowing from its credit facility, if necessary to raise cash to meet its obligations.

Senior loans hold the most senior position in the capital structure of a business entity, and are typically secured with specific collateral, but are nevertheless usually rated below investment grade. Because second lien loans are subordinated or unsecured and thus lower in priority of payment to senior loans, they are subject to the additional risk that the cash flow of the borrower and property securing the loan or debt, if any, may be insufficient to meet scheduled payments after giving effect to the senior secured obligations of the borrower. Second lien loans generally have greater price volatility than senior loans and may be less liquid.

Mortgage-Backed and Other Asset-Backed Securities Risk.  Mortgage-related and other asset-backed securities are subject to certain additional risks, including “extension risk” (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and “prepayment risk” (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Mortgage-Backed Securities offered by non-governmental issuers are subject to other risks as well, including failures of private insurers to meet their obligations and unexpectedly high rates of default on the mortgages backing the securities. Other asset-backed securities are subject to risks similar to those associated with Mortgage-Backed Securities, as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.

Municipal Securities Risk.  Municipal Securities are subject to call/prepayment risk, credit/default risk, extension risk, interest rate risk and certain additional risks. The Fund may be more sensitive to adverse economic, business or political developments if it invests a substantial portion of its assets in the bonds of similar projects (such as those relating to education, health care, housing, transportation, and utilities), industrial development bonds, or in particular types of municipal securities (such as general obligation bonds, private activity bonds and moral obligation bonds). Generally, municipalities continue to experience difficulties in the current economic and political environment.

Non-Investment Grade Fixed Income Securities Risk.  Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as “junk bonds”) are considered speculative and are subject to the increased risk of an issuer’s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity.

U.S. Government Securities Risk.  The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by those agencies, instrumentalities and government sponsored enterprises, including those issued by the Federal National Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including any legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future.
Performance
The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) the changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average total returns of the Fund’s Class A, Class C, Institutional, Investor, Class R, Class R6 and Class T Shares compare to those of certain broad-based securities market indices and to the Goldman Sachs Short Duration Income Fund Composite Index, a custom benchmark comprised of the Bloomberg Barclays U.S. 1-5 Year Corporate Bond Index (50%) and the Bloomberg Barclays U.S. 1-5 Year Government Bond Index (50%). The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart
The total return for Class A Shares for the six month
period ended June 30, 2017 was 1.44%.

Best Quarter
Q1’16              1.03%

Worst Quarter
Q2 ‘13              –1.08%
AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Average Annual Total Returns - Goldman Sachs Short Duration Income Fund
1 Year
Since Inception
Inception Date
Class A Shares 0.58% 1.11% Feb. 29, 2012
Class A Shares | Returns After Taxes on Distributions (0.19%) 0.45% Feb. 29, 2012
Class A Shares | Returns After Taxes on Distributions and Sale of Fund Shares 0.32% 0.56% Feb. 29, 2012
Class A Shares | Bloomberg Barclays U.S. 1-5 Year Corporate Bond Index (reflects no deduction for fees or expenses) 2.86% 2.36% Feb. 29, 2012
Class A Shares | Bloomberg Barclays U.S. 1-5 Year Government Bond Index (reflects no deduction for fees or expenses) 1.01% 0.81% Feb. 29, 2012
Class A Shares | Goldman Sachs Short Duration Income Fund Composite Index 1.94% 1.58% Feb. 29, 2012
Class C Shares 1.03% 1.02% Feb. 29, 2012
Class C Shares | Bloomberg Barclays U.S. 1-5 Year Corporate Bond Index (reflects no deduction for fees or expenses) 2.86% 2.36% Feb. 29, 2012
Class C Shares | Bloomberg Barclays U.S. 1-5 Year Government Bond Index (reflects no deduction for fees or expenses) 1.01% 0.81% Feb. 29, 2012
Class C Shares | Goldman Sachs Short Duration Income Fund Composite Index 1.94% 1.58% Feb. 29, 2012
Institutional Shares 2.54% 1.81% Feb. 29, 2012
Institutional Shares | Bloomberg Barclays U.S. 1-5 Year Corporate Bond Index (reflects no deduction for fees or expenses) 2.86% 2.36% Feb. 29, 2012
Institutional Shares | Bloomberg Barclays U.S. 1-5 Year Government Bond Index (reflects no deduction for fees or expenses) 1.01% 0.81% Feb. 29, 2012
Institutional Shares | Goldman Sachs Short Duration Income Fund Composite Index 1.94% 1.58% Feb. 29, 2012
Investor Shares 2.35% 1.69% Feb. 29, 2012
Investor Shares | Bloomberg Barclays U.S. 1-5 Year Corporate Bond Index (reflects no deduction for fees or expenses) 2.86% 2.36% Feb. 29, 2012
Investor Shares | Bloomberg Barclays U.S. 1-5 Year Government Bond Index (reflects no deduction for fees or expenses) 1.01% 0.81% Feb. 29, 2012
Investor Shares | Goldman Sachs Short Duration Income Fund Composite Index 1.94% 1.58% Feb. 29, 2012
Class R Shares 1.85% 1.19% Feb. 29, 2012
Class R Shares | Bloomberg Barclays U.S. 1-5 Year Corporate Bond Index (reflects no deduction for fees or expenses) 2.86% 2.36% Feb. 29, 2012
Class R Shares | Bloomberg Barclays U.S. 1-5 Year Government Bond Index (reflects no deduction for fees or expenses) 1.01% 0.81% Feb. 29, 2012
Class R Shares | Goldman Sachs Short Duration Income Fund Composite Index 1.94% 1.58% Feb. 29, 2012
Class R6 Shares [1] 2.41% 1.78% Jul. 31, 2015
Class R6 Shares | Bloomberg Barclays U.S. 1-5 Year Corporate Bond Index (reflects no deduction for fees or expenses) [1] 2.86% 2.36% Jul. 31, 2015
Class R6 Shares | Bloomberg Barclays U.S. 1-5 Year Government Bond Index (reflects no deduction for fees or expenses) [1] 1.01% 0.81% Jul. 31, 2015
Class R6 Shares | Goldman Sachs Short Duration Income Fund Composite Index [1] 1.94% 1.58% Jul. 31, 2015
Class T Shares [2] (0.46%) 0.89% Jul. 28, 2017
Class T Shares | Bloomberg Barclays U.S. 1-5 Year Corporate Bond Index (reflects no deduction for fees or expenses) [2] 2.86% 2.36% Jul. 28, 2017
Class T Shares | Bloomberg Barclays U.S. 1-5 Year Government Bond Index (reflects no deduction for fees or expenses) [2] 1.01% 0.81% Jul. 28, 2017
Class T Shares | Goldman Sachs Short Duration Income Fund Composite Index [2] 1.94% 1.58% Jul. 28, 2017
[1] Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of the Class R6 Shares shown in the table above is that of the Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses.
[2] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has been adjusted to reflect the higher maximum sales charge (load) imposed on purchases of Class T Shares. Class A Shares had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class A Shares impose a lower maximum sales charge (load) on purchases.
The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 71 R157.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName GOLDMAN SACHS TRUST
Prospectus Date rr_ProspectusDate Jul. 28, 2017
Goldman Sachs Short Duration Income Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Goldman Sachs Short Duration Income Fund—Summary
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Goldman Sachs Short Duration Income Fund (the “Fund”) seeks total return consisting of income and capital appreciation.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $500,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 59 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 63 and in “Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts” on page 106 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees
(fees paid directly from your investment):
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment):
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination July 28, 2018
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 165% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 165.00%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock A contingent deferred sales charge (“CDSC”) of 0.65% is imposed on Class C Shares redeemed within 12 months of purchase.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $500,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 59 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 63 and in “Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts” on page 106 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates the “Other Expenses” for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent The “Other Expenses” for Class R6 Shares have been restated
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Investor, Class R, Class R6 and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Investor, Class R, Class R6 and/or Class T Shares at the end of those periods, unless otherwise stated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption Assuming complete redemption at end of period
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption Assuming no redemption
Strategy [Heading] rr_StrategyHeading Principal Strategy
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in U.S. or foreign fixed income securities. These fixed income securities include securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises (“U.S. Government Securities”), corporate debt securities, collateralized loan obligations, agency and privately issued adjustable rate and fixed rate mortgage loans or other mortgage-related securities (“Mortgage-Backed Securities”), asset-backed securities, high yield non-investment grade fixed income securities (i.e., securities rated BB+, Ba1 or below by a nationally recognized statistical rating organization (“NRSRO”) or, if unrated, determined by the Investment Adviser to be of comparable credit quality), high yield floating rate loans (“Bank Loans”) and sovereign and corporate debt securities, and other instruments of issuers in emerging market countries (“emerging countries debt”). The Fund may also invest in fixed income securities issued by or on behalf of states, territories, and possessions of the United States (including the District of Columbia) (“Municipal Securities”) and may purchase securities of issuers in default. The Fund may seek to obtain exposure to these investments through investments in affiliated or unaffiliated investment companies including the Goldman Sachs High Yield Fund, Goldman Sachs Emerging Markets Debt Fund and Goldman Sachs Local Emerging Markets Debt Fund.

The Fund may not invest, in the aggregate, more than 20% of its total assets measured at the time of purchase (“Total Assets”) in (i) emerging countries debt and (ii) non-investment grade fixed income securities.

The Fund may engage in forward foreign currency transactions for both hedging and non-hedging purposes. The Fund may invest in obligations of domestic and foreign issuers that are denominated in currencies other than the U.S. dollar (and may also be denominated in a currency other than that associated with the issuer’s domicile).

The Fund also intends to invest in other derivative instruments, including (but not limited to) interest rate futures contracts, options (including options on futures contracts, swaps, bonds and indexes), swaps (including credit default, index, basis, total return, volatility and currency swaps) and other forward contracts. The Fund may use derivatives, instead of buying and selling debt directly, to manage duration, to gain exposure to certain securities or indexes, or to take short positions with respect to individual securities or indexes. The Fund may invest in derivatives that are not denominated in U.S. dollars.

Except as described above, the Fund invests in fixed income securities rated at least BBB- or Baa3 at the time of purchase. The Fund will deem a security to have the highest credit rating assigned to it from an NRSRO at the time of purchase, if more than one NRSRO rates the security. Unrated securities may be purchased by the Fund if they are determined by the Investment Adviser to be of comparable credit quality.

The Fund’s maximum target duration under normal interest rate conditions is expected to be approximately 3.5 years, and during the past five years ended June 30, 2017, the duration of the Goldman Sachs Short Duration Income Fund Composite Index ranged between 2.68 and 2.80 years. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.

In pursuing its investment objective, the Fund uses the Goldman Sachs Short Duration Income Fund Composite Index, which is comprised of the Bloomberg Barclays U.S. 1-5 Year Corporate Bond Index (50%) and the Bloomberg Barclays U.S. 1-5 Year Government Bond Index (50%) (the “Index”) as its performance benchmark, but the Fund will not attempt to replicate the Index. The Fund may, therefore, invest in securities that are not included in the Index.

GSAM’s Fixed Income Investing Philosophy:

Global fixed income markets are constantly evolving and are highly diverse—with a large number of countries, currencies, sectors, issuers and securities. We believe that inefficiencies in these complex markets cause bond prices to diverge from their fair value. To capitalize on these inefficiencies and generate consistent risk-adjusted performance, we believe it is critical to:
  • Thoughtfully combine diversified sources of return by employing multiple strategies
  • Take a global perspective to uncover relative value opportunities
  • Employ focused specialist teams to identify short-term mis-pricings and incorporate long-term views
  • Emphasize a risk-aware approach as we view risk management as both an offensive and defensive tool
  • Build a strong team of skilled investors who excel on behalf of our clients
Risk [Heading] rr_RiskHeading Principal Risks of the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Loss of money is a risk of investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. The Fund should not be relied upon as a complete investment program. There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve substantial risks which prospective investors should consider carefully before investing.

Call/Prepayment Risk.  An issuer could exercise its right to pay principal on an obligation held by the Fund (such as a Mortgage-Backed Security) earlier than expected. This may happen when there is a decline in interest rates, when credit spreads change, or when an issuer’s credit quality improves. Under these circumstances, the Fund may be unable to recoup all of its initial investment and will also suffer from having to reinvest in lower-yielding securities.

Counterparty Risk.  Many of the protections afforded to cleared transactions, such as the security afforded by transacting through a clearing house, might not be available in connection with over the counter (“OTC”) transactions. Therefore, in those instances in which the Fund enters into OTC transactions, the Fund will be subject to the risk that its direct counterparty will not perform its obligations under the transactions and that the Fund will sustain losses.

Credit/Default Risk.  An issuer or guarantor of fixed income securities or instruments held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant deterioration in net asset value (“NAV”). These risks are more pronounced in connection with the Fund’s investments in non-investment grade fixed income securities.

Derivatives Risk.  The Fund’s use of options, futures, forwards, swaps, options on swaps and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments may be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk which is the risk that the other party in the transaction will not fulfill its contractual obligation. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the Securities and Exchange Commission (“SEC”) proposed new regulations relating to a mutual fund’s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact a Fund’s ability to invest in derivatives and other instruments and adversely affect such Fund’s performance and ability to pursue its investment objectives.

Expenses Risk.  By investing in pooled investment vehicles (including investment companies, exchange-traded funds and money market funds) indirectly through the Fund, the investor will incur not only a proportionate share of the expenses of the other pooled investment vehicles held by the Fund (including operating costs and investment management fees), but also expenses of the Fund.

Extension Risk.  An issuer could exercise its right to pay principal on an obligation held by the Fund (such as a Mortgage-Backed Security) later than expected. This may happen when there is a rise in interest rates. Under these circumstances, the value of the obligation will decrease, and the Fund will also suffer from the inability to invest in higher-yielding securities.

Floating and Variable Rate Obligations Risk.  For floating and variable rate obligations, there may be a lag between an actual change in the underlying interest rate benchmark and the reset time for an interest payment of such an obligation, which could harm or benefit the Fund, depending on the interest rate environment or other circumstances. In a rising interest rate environment, for example, a floating or variable rate obligation that does not reset immediately would prevent the Fund from taking full advantage of rising interest rates in a timely manner. However, in a declining interest rate environment, the Fund may benefit from a lag due to an obligation’s interest rate payment not being immediately impacted by a decline in interest rates.

Certain floating and variable rate obligations have an interest rate floor feature, which prevents the interest rate payable by the security from dropping below a specified level as compared to a reference interest rate (the “reference rate”), such as LIBOR. Such a floor protects the Fund from losses resulting from a decrease in the reference rate below the specified level. However, if the reference rate is below the floor, there will be a lag between a rise in the reference rate and a rise in the interest rate payable by the obligation, and the Fund may not benefit from increasing interest rates for a significant amount of time.

Foreign and Emerging Countries Risk.  Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls, sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. These risks may be more pronounced in connection with the Fund’s investments in securities of issuers located in emerging countries. In addition, the Fund will be subject to the risk that an issuer of non-U.S. sovereign debt or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay the principal interest when due.

Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing interest rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.

Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.

Loan-Related Investments Risk.  In addition to the risks generally associated with debt investments, loan-related investments such as loan participations and assignments are subject to other risks. Although a loan obligation may be fully collateralized at the time of acquisition, the collateral may decline in value, be relatively illiquid, or lose all or substantially all of its value subsequent to investment. Many loan investments are subject to legal or contractual restrictions on resale and may be relatively illiquid and difficult to value. There is less readily available, reliable information about most loan investments than is the case for many other types of securities. Substantial increases in interest rates may cause an increase in loan obligation defaults. With respect to loan participations, the Fund may not always have direct recourse against a borrower if the borrower fails to pay scheduled principal and/or interest; may be subject to greater delays, expenses and risks than if the Fund had purchased a direct obligation of the borrower; and may be regarded as the creditor of the agent lender (rather than the borrower), subjecting the Fund to the creditworthiness of that lender as well. Investors in loans, such as the Fund, may not be entitled to rely on the anti-fraud protections of the federal securities laws, although they may be entitled to certain contractual remedies. The market for loan obligations may be subject to irregular trading activity, wide bid/ask spreads and extended trade settlement periods. Because transactions in many loans are subject to extended trade settlement periods, a Fund may not receive the proceeds from the sale of a loan for a period after the sale. As a result, sale proceeds related to the sale of loans may not be available to make additional investments or to meet a Fund’s redemption obligations for a period after the sale of the loans, and, as a result, the Fund may have to sell other investments or engage in borrowing transactions, such as borrowing from its credit facility, if necessary to raise cash to meet its obligations.

Senior loans hold the most senior position in the capital structure of a business entity, and are typically secured with specific collateral, but are nevertheless usually rated below investment grade. Because second lien loans are subordinated or unsecured and thus lower in priority of payment to senior loans, they are subject to the additional risk that the cash flow of the borrower and property securing the loan or debt, if any, may be insufficient to meet scheduled payments after giving effect to the senior secured obligations of the borrower. Second lien loans generally have greater price volatility than senior loans and may be less liquid.

Mortgage-Backed and Other Asset-Backed Securities Risk.  Mortgage-related and other asset-backed securities are subject to certain additional risks, including “extension risk” (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and “prepayment risk” (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Mortgage-Backed Securities offered by non-governmental issuers are subject to other risks as well, including failures of private insurers to meet their obligations and unexpectedly high rates of default on the mortgages backing the securities. Other asset-backed securities are subject to risks similar to those associated with Mortgage-Backed Securities, as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.

Municipal Securities Risk.  Municipal Securities are subject to call/prepayment risk, credit/default risk, extension risk, interest rate risk and certain additional risks. The Fund may be more sensitive to adverse economic, business or political developments if it invests a substantial portion of its assets in the bonds of similar projects (such as those relating to education, health care, housing, transportation, and utilities), industrial development bonds, or in particular types of municipal securities (such as general obligation bonds, private activity bonds and moral obligation bonds). Generally, municipalities continue to experience difficulties in the current economic and political environment.

Non-Investment Grade Fixed Income Securities Risk.  Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as “junk bonds”) are considered speculative and are subject to the increased risk of an issuer’s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity.

U.S. Government Securities Risk.  The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by those agencies, instrumentalities and government sponsored enterprises, including those issued by the Federal National Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including any legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future.
Risk Lose Money [Text] rr_RiskLoseMoney Loss of money is a risk of investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) the changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average total returns of the Fund’s Class A, Class C, Institutional, Investor, Class R, Class R6 and Class T Shares compare to those of certain broad-based securities market indices and to the Goldman Sachs Short Duration Income Fund Composite Index, a custom benchmark comprised of the Bloomberg Barclays U.S. 1-5 Year Corporate Bond Index (50%) and the Bloomberg Barclays U.S. 1-5 Year Government Bond Index (50%). The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class Shares. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) the changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average total returns of the Fund’s Class A, Class C, Institutional, Investor, Class R, Class R6 and Class T Shares compare to those of certain broad-based securities market indices and to the Goldman Sachs Short Duration Income Fund Composite Index, a custom benchmark comprised of the Bloomberg Barclays U.S. 1-5 Year Corporate Bond Index (50%) and the Bloomberg Barclays U.S. 1-5 Year Government Bond Index (50%).
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess As of the date of the Prospectus, Class T Shares have not commenced operations.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.gsamfunds.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to Class Shares. If the sales loads were reflected, returns would be less.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The total return for Class A Shares for the six month
period ended June 30, 2017 was 1.44%.

Best Quarter
Q1’16              1.03%

Worst Quarter
Q2 ‘13              –1.08%
Performance Table Heading rr_PerformanceTableHeading AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Performance Table Does Reflect Sales Loads rr_PerformanceTableDoesReflectSalesLoads Performance has been adjusted to reflect the higher maximum sales charge (load) imposed on purchases of Class T Shares. Class A Shares had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class A Shares impose a lower maximum sales charge (load) on purchases.
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R and Class R6 Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Goldman Sachs Short Duration Income Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 1.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.40%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.25% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.90%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.11%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.79% [4]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 500,000
1 Year rr_ExpenseExampleYear01 229
3 Years rr_ExpenseExampleYear03 422
5 Years rr_ExpenseExampleYear05 630
10 Years rr_ExpenseExampleYear10 $ 1,231
2013 rr_AnnualReturn2013 1.45%
2014 rr_AnnualReturn2014 0.36%
2015 rr_AnnualReturn2015 0.28%
2016 rr_AnnualReturn2016 2.09%
Year to Date Return, Label rr_YearToDateReturnLabel total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 1.44%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2016
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 1.03%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Jun. 30, 2013
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (1.08%)
1 Year rr_AverageAnnualReturnYear01 0.58%
Since Inception rr_AverageAnnualReturnSinceInception 1.11%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 29, 2012
Goldman Sachs Short Duration Income Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther 0.65% [1]
Management Fees rr_ManagementFeesOverAssets 0.40%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
All Other Expenses rr_Component3OtherExpensesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.50% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.65%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.46%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.19% [4]
1 Year rr_ExpenseExampleYear01 $ 186
3 Years rr_ExpenseExampleYear03 475
5 Years rr_ExpenseExampleYear05 854
10 Years rr_ExpenseExampleYear10 1,916
1 Year rr_ExpenseExampleNoRedemptionYear01 121
3 Years rr_ExpenseExampleNoRedemptionYear03 475
5 Years rr_ExpenseExampleNoRedemptionYear05 854
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,916
1 Year rr_AverageAnnualReturnYear01 1.03%
Since Inception rr_AverageAnnualReturnSinceInception 1.02%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 29, 2012
Goldman Sachs Short Duration Income Fund | Institutional  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.40%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.16%
Other Expenses rr_OtherExpensesOverAssets 0.16% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.56%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.11%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.45% [4]
1 Year rr_ExpenseExampleYear01 $ 46
3 Years rr_ExpenseExampleYear03 168
5 Years rr_ExpenseExampleYear05 302
10 Years rr_ExpenseExampleYear10 $ 691
1 Year rr_AverageAnnualReturnYear01 2.54%
Since Inception rr_AverageAnnualReturnSinceInception 1.81%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 29, 2012
Goldman Sachs Short Duration Income Fund | Investor  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.40%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.25% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.65%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.11%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.54% [4]
1 Year rr_ExpenseExampleYear01 $ 55
3 Years rr_ExpenseExampleYear03 197
5 Years rr_ExpenseExampleYear05 351
10 Years rr_ExpenseExampleYear10 $ 800
1 Year rr_AverageAnnualReturnYear01 2.35%
Since Inception rr_AverageAnnualReturnSinceInception 1.69%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 29, 2012
Goldman Sachs Short Duration Income Fund | Class R  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.40%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.25% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.15%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.11%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.04% [4]
1 Year rr_ExpenseExampleYear01 $ 106
3 Years rr_ExpenseExampleYear03 354
5 Years rr_ExpenseExampleYear05 622
10 Years rr_ExpenseExampleYear10 $ 1,388
1 Year rr_AverageAnnualReturnYear01 1.85%
Since Inception rr_AverageAnnualReturnSinceInception 1.19%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 29, 2012
Goldman Sachs Short Duration Income Fund | Class R6  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.40%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.15%
Other Expenses rr_OtherExpensesOverAssets 0.15% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.55%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.10%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.45% [4]
1 Year rr_ExpenseExampleYear01 $ 46
3 Years rr_ExpenseExampleYear03 166
5 Years rr_ExpenseExampleYear05 297
10 Years rr_ExpenseExampleYear10 $ 680
1 Year rr_AverageAnnualReturnYear01 2.41% [5]
Since Inception rr_AverageAnnualReturnSinceInception 1.78% [5]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [5]
Goldman Sachs Short Duration Income Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.40%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.25% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.90%
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.11%) [3]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 0.79% [4]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
1 Year rr_ExpenseExampleYear01 329
3 Years rr_ExpenseExampleYear03 519
5 Years rr_ExpenseExampleYear05 726
10 Years rr_ExpenseExampleYear10 $ 1,320
1 Year rr_AverageAnnualReturnYear01 (0.46%) [6]
Since Inception rr_AverageAnnualReturnSinceInception 0.89% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [6]
Goldman Sachs Short Duration Income Fund | Returns After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (0.19%)
Since Inception rr_AverageAnnualReturnSinceInception 0.45%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 29, 2012
Goldman Sachs Short Duration Income Fund | Returns After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.32%
Since Inception rr_AverageAnnualReturnSinceInception 0.56%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 29, 2012
Goldman Sachs Short Duration Income Fund | Bloomberg Barclays U.S. 1-5 Year Corporate Bond Index (reflects no deduction for fees or expenses) | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.86%
Since Inception rr_AverageAnnualReturnSinceInception 2.36%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 29, 2012
Goldman Sachs Short Duration Income Fund | Bloomberg Barclays U.S. 1-5 Year Corporate Bond Index (reflects no deduction for fees or expenses) | Class C  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.86%
Since Inception rr_AverageAnnualReturnSinceInception 2.36%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 29, 2012
Goldman Sachs Short Duration Income Fund | Bloomberg Barclays U.S. 1-5 Year Corporate Bond Index (reflects no deduction for fees or expenses) | Institutional  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.86%
Since Inception rr_AverageAnnualReturnSinceInception 2.36%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 29, 2012
Goldman Sachs Short Duration Income Fund | Bloomberg Barclays U.S. 1-5 Year Corporate Bond Index (reflects no deduction for fees or expenses) | Investor  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.86%
Since Inception rr_AverageAnnualReturnSinceInception 2.36%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 29, 2012
Goldman Sachs Short Duration Income Fund | Bloomberg Barclays U.S. 1-5 Year Corporate Bond Index (reflects no deduction for fees or expenses) | Class R  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.86%
Since Inception rr_AverageAnnualReturnSinceInception 2.36%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 29, 2012
Goldman Sachs Short Duration Income Fund | Bloomberg Barclays U.S. 1-5 Year Corporate Bond Index (reflects no deduction for fees or expenses) | Class R6  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.86% [5]
Since Inception rr_AverageAnnualReturnSinceInception 2.36% [5]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [5]
Goldman Sachs Short Duration Income Fund | Bloomberg Barclays U.S. 1-5 Year Corporate Bond Index (reflects no deduction for fees or expenses) | Class T  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.86% [6]
Since Inception rr_AverageAnnualReturnSinceInception 2.36% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [6]
Goldman Sachs Short Duration Income Fund | Bloomberg Barclays U.S. 1-5 Year Government Bond Index (reflects no deduction for fees or expenses) | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.01%
Since Inception rr_AverageAnnualReturnSinceInception 0.81%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 29, 2012
Goldman Sachs Short Duration Income Fund | Bloomberg Barclays U.S. 1-5 Year Government Bond Index (reflects no deduction for fees or expenses) | Class C  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.01%
Since Inception rr_AverageAnnualReturnSinceInception 0.81%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 29, 2012
Goldman Sachs Short Duration Income Fund | Bloomberg Barclays U.S. 1-5 Year Government Bond Index (reflects no deduction for fees or expenses) | Institutional  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.01%
Since Inception rr_AverageAnnualReturnSinceInception 0.81%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 29, 2012
Goldman Sachs Short Duration Income Fund | Bloomberg Barclays U.S. 1-5 Year Government Bond Index (reflects no deduction for fees or expenses) | Investor  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.01%
Since Inception rr_AverageAnnualReturnSinceInception 0.81%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 29, 2012
Goldman Sachs Short Duration Income Fund | Bloomberg Barclays U.S. 1-5 Year Government Bond Index (reflects no deduction for fees or expenses) | Class R  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.01%
Since Inception rr_AverageAnnualReturnSinceInception 0.81%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 29, 2012
Goldman Sachs Short Duration Income Fund | Bloomberg Barclays U.S. 1-5 Year Government Bond Index (reflects no deduction for fees or expenses) | Class R6  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.01% [5]
Since Inception rr_AverageAnnualReturnSinceInception 0.81% [5]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [5]
Goldman Sachs Short Duration Income Fund | Bloomberg Barclays U.S. 1-5 Year Government Bond Index (reflects no deduction for fees or expenses) | Class T  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.01% [6]
Since Inception rr_AverageAnnualReturnSinceInception 0.81% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [6]
Goldman Sachs Short Duration Income Fund | Goldman Sachs Short Duration Income Fund Composite Index | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.94%
Since Inception rr_AverageAnnualReturnSinceInception 1.58%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 29, 2012
Goldman Sachs Short Duration Income Fund | Goldman Sachs Short Duration Income Fund Composite Index | Class C  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.94%
Since Inception rr_AverageAnnualReturnSinceInception 1.58%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 29, 2012
Goldman Sachs Short Duration Income Fund | Goldman Sachs Short Duration Income Fund Composite Index | Institutional  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.94%
Since Inception rr_AverageAnnualReturnSinceInception 1.58%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 29, 2012
Goldman Sachs Short Duration Income Fund | Goldman Sachs Short Duration Income Fund Composite Index | Investor  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.94%
Since Inception rr_AverageAnnualReturnSinceInception 1.58%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 29, 2012
Goldman Sachs Short Duration Income Fund | Goldman Sachs Short Duration Income Fund Composite Index | Class R  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.94%
Since Inception rr_AverageAnnualReturnSinceInception 1.58%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 29, 2012
Goldman Sachs Short Duration Income Fund | Goldman Sachs Short Duration Income Fund Composite Index | Class R6  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.94% [5]
Since Inception rr_AverageAnnualReturnSinceInception 1.58% [5]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 2015 [5]
Goldman Sachs Short Duration Income Fund | Goldman Sachs Short Duration Income Fund Composite Index | Class T  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 1.94% [6]
Since Inception rr_AverageAnnualReturnSinceInception 1.58% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [6]
[1] A contingent deferred sales charge ("CDSC") of 0.65% is imposed on Class C Shares redeemed within 12 months of purchase.
[2] The "Other Expenses" for Class R6 Shares have been restated and the "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[3] The Investment Adviser has agreed to: (i) waive a portion of its management fee payable by the Fund in an amount equal to any management fees it earns as an investment adviser to any of the affiliated funds in which the Fund invests; and (ii) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.014% of the Fund's average daily net assets. In addition, Goldman Sachs & Co. LLC ("Goldman Sachs") has agreed to waive a portion of the distribution (12b-1) and service fees equal to 0.35% of the average daily net assets attributable to Class C Shares of the Fund. These arrangements will remain in effect through at least July 28, 2018, and prior to such date, the Investment Adviser or Goldman Sachs (as applicable) may not terminate the arrangement without the approval of the Board of Trustees.
[4] After Fee Waiver and Expense Limitation
[5] Class R6 Shares commenced operations on July 31, 2015. Prior to that date, the performance of the Class R6 Shares shown in the table above is that of the Institutional Shares, including since inception performance as of Institutional Shares' inception date. Performance has not been adjusted to reflect the lower expenses of Class R6 Shares. Class R6 Shares would have had higher returns because: (i) Institutional Shares and Class R6 Shares represent interests in the same portfolio of securities; and (ii) Class R6 Shares have lower expenses.
[6] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares, including since inception performance as of Class A Shares' inception date. Performance has been adjusted to reflect the higher maximum sales charge (load) imposed on purchases of Class T Shares. Class A Shares had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class A Shares impose a lower maximum sales charge (load) on purchases.
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Goldman Sachs Long Short Credit Strategies Fund
Goldman Sachs Long Short Credit Strategies Fund—Summary
Investment Objective
The Goldman Sachs Long Short Credit Strategies Fund (the “Fund”) seeks an absolute return comprised of income and capital appreciation.
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 45 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 48 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 84 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees
(fees paid directly from your investment):
Shareholder Fees - Goldman Sachs Long Short Credit Strategies Fund
Class A
Class C
Institutional
Investor
Class R
Class T
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 3.75% none none none none 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) [1] none 1.00% none none none none
[1] A contingent deferred sales charge ("CDSC") of 1.00% is imposed on Class C Shares redeemed within 12 months of purchase.
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses - Goldman Sachs Long Short Credit Strategies Fund
Class A
Class C
Institutional
Investor
Class R
Class T
Management Fees 1.00% 1.00% 1.00% 1.00% 1.00% 1.00%
Distribution and/or Service (12b-1) Fees 0.25% 0.75% none none 0.50% 0.25%
Other Expenses [1] 0.33% 0.58% 0.24% 0.33% 0.33% 0.33%
Service Fees none 0.25% none none none none
All Other Expenses 0.33% 0.33% 0.24% 0.33% 0.33% 0.33%
Acquired Fund Fees and Expenses 0.03% 0.03% 0.03% 0.03% 0.03% 0.03%
Total Annual Fund Operating Expenses [2] 1.61% 2.36% 1.27% 1.36% 1.86% 1.61%
Fee Waiver and Expense Limitation [3] (0.14%) (0.14%) (0.14%) (0.14%) (0.14%) (0.14%)
Total Annual Fund Operating Expenses [2],[4] 1.47% 2.22% 1.13% 1.22% 1.72% 1.47%
[1] The "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[2] The "Total Annual Fund Operating Expenses" do not correlate to the ratios of net and total expenses to average net assets provided in the Financial Highlights, which reflect the operating expenses of the Fund and do not include "Acquired Fund Fees and Expenses".
[3] The Investment Adviser has agreed to (i) waive a portion of its management fee payable by the Fund in an amount equal to any management fee it earns as an investment adviser to any of the affiliated funds in which the Fund invests, and (ii) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.094% of the Fund's average daily net assets. These arrangements will remain in effect through at least July 28, 2018, and prior to such date, the Investment Adviser may not terminate the arrangements without the approval of the Board of Trustees.
[4] After Fee Waiver and Expense Limitation
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Investor, Class R and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Investor, Class R and/or Class T Shares at the end of those periods, unless otherwise stated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Assuming complete redemption at end of period
Expense Example - Goldman Sachs Long Short Credit Strategies Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A Shares 519 851 1,206 2,203
Class C Shares 325 723 1,248 2,686
Institutional Shares 115 389 684 1,522
Investor Shares 124 417 731 1,623
Class R Shares 175 571 993 2,168
Class T Shares 396 732 1,091 2,102
Assuming no redemption
Expense Example, No Redemption
1 Year
3 Years
5 Years
10 Years
Goldman Sachs Long Short Credit Strategies Fund | Class C Shares | USD ($) 225 723 1,248 2,686
Portfolio Turnover
The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 266% of the average value of its portfolio.
Principal Strategy
The Fund will seek to achieve its investment objective through long and short exposures to “credit related instruments.” Under normal market conditions, the Fund will invest at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in the following credit related instruments: (i) fixed rate and floating rate income securities; (ii) loans and loan participations including: (a) senior secured floating rate and fixed rate loans or debt (“Senior Loans”), (b) second lien or other subordinated or unsecured floating rate and fixed rate loans or debt (“Second Lien Loans”) and (c) other types of secured or unsecured loans with fixed, floating, or variable interest rates; (iii) convertible securities; (iv) collateralized debt, bond and loan obligations; (v) bank and corporate debt obligations; (vi) securities issued or guaranteed by the U.S. government or its agencies, instrumentalities or sponsored enterprises (“U.S. Government Securities”), and securities issued by or on behalf of states, territories, and possessions of the United States (including the District of Columbia); (vii) preferred securities and trust preferred securities; (viii) structured securities, including credit-linked notes; and/or (ix) listed and unlisted, public and private, rated and unrated debt instruments and other obligations, including those of financially troubled companies (sometimes known as “distressed securities” or “defaulted securities”).

The Fund may invest in instruments and obligations directly, or indirectly by investing in derivative or synthetic instruments, including, without limitation, credit default swaps (including credit default swaps on credit related indices) and loan credit default swaps. The Fund will opportunistically seek short exposures to credit related instruments through the use of such derivatives or synthetic instruments, including, but not limited to, credit default swaps (including credit default swaps on credit related indices).

The Fund intends to implement short positions for hedging purposes or to seek to enhance absolute return, and may do so by using swaps or futures, or through short sales of any instrument that the Fund may purchase for investment. For example, the Fund may buy credit default swaps. Credit default swaps involve the receipt of floating or fixed rate payments in exchange for assuming potential credit losses on an underlying security (or group of securities). When the Fund is the buyer of a credit default swap (buying protection), it may make periodic payments to the seller of the credit default swap to obtain protection against a credit default on a specified underlying asset (or group of assets). If a default occurs, the seller of a credit default swap may be required to pay the Fund the notional amount of the credit default swap on a specified security (or group of securities). On the other hand, when the Fund is a seller of a credit default swap (commonly known as selling protection), in addition to the credit exposure the Fund has on the other assets held in its portfolio, the Fund is also subject to the credit exposure on the notional amount of the swap since, in the event of a credit default, the Fund may be required to pay the notional amount of the credit default swap on a specified security (or group of securities) to the buyer of the credit swap. The Fund will be the seller of a credit default swap only when the credit of the underlying asset is deemed by the Investment Adviser to meet the Fund’s minimum credit criteria at the time the swap is first entered into.

The Fund may invest in U.S. dollar denominated as well as non-U.S. dollar denominated (foreign) securities. The Fund may also hold cash, and/or invest in cash equivalents.

There is no minimum credit rating for instruments in which the Fund may invest, and the Fund may invest without limitation in securities below investment grade. Non-investment grade fixed income securities (commonly known as “junk bonds”) are rated BB+, Ba1 or below by a nationally recognized statistical rating organization (“NRSRO”), or, if unrated, determined by the Investment Adviser to be of comparable credit quality. The Fund may also invest in credit instruments of any maturity or duration.

When making investments, the Investment Adviser seeks to identify securities that are both fundamentally mispriced and have a potential catalyst for value creation. Within this universe, the Investment Adviser seeks perceived risk-adjusted return opportunities with a focus on:
  • Asymmetric return profile (i.e., upside versus downside potential);
  • Relative value analysis and impact on the current portfolio;
  • Technical dynamics in the market (i.e., understanding the price movements in the market relative to supply and demand); and
  • Overall risk/return potential.
The Fund employs a sell discipline aimed at minimizing losses. Although the portfolio management team considers many factors when implementing trades, there are three primary reasons why the Fund would exit an investment or trade:
  • Position Target Achieved—Position targets are established at the time of investment and monitored on both an absolute and relative value basis. An asset is typically sold as it approaches the target, unless changes in circumstances dictate a revised target.
  • Credit Profile Change/Credit Event—The loss of (or change to) a catalyst or change in fundamentals which no longer support the initial investment decision will cause the team to exit a position.
  • Portfolio Re-Allocation—Each position is monitored on a relative value basis versus other holdings and market opportunities. Positions are sold or reduced to maintain proper portfolio diversification.
The Fund seeks an absolute return comprised of income and capital appreciation. Absolute return performance may be uncorrelated to fixed income and equity markets over the long-term. The Fund’s investment strategies are intended to reduce volatility (i.e., the Fund may be less impacted by market fluctuations in rising and falling market conditions).

The Fund’s benchmark index is the Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index.

THE FUND IS NON-DIVERSIFIED UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED (“INVESTMENT COMPANY ACT”), AND MAY INVEST A LARGER PERCENTAGE OF ITS ASSETS IN FEWER ISSUERS THAN DIVERSIFIED MUTUAL FUNDS.
Principal Risks of the Fund
Loss of money is a risk of investing in the Fund. The investment program of the Fund is speculative, entails substantial risks and includes alternative investment techniques not employed by traditional mutual funds. The Fund should not be relied upon as a complete investment program. The Fund’s investment techniques (if they do not perform as designed) may increase the volatility of performance and the risk of investment loss, including the loss of the entire amount that is invested, and there can be no assurance that the investment objective of the Fund will be achieved. Moreover, certain investment techniques which the Fund may employ in its investment program can substantially increase the adverse impact to which the Fund’s investments may be subject. There is no assurance that the investment processes of the Fund will be successful, that the techniques utilized therein will be implemented successfully or that they are adequate for their intended uses, or that the discretionary element of the investment processes of the Fund will be exercised in a manner that is successful or that is not adverse to the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. Investors should carefully consider these risks before investing.

Call/Prepayment Risk.  An issuer could exercise its right to pay principal on an obligation held by the Fund (such as a mortgage-backed security) earlier than expected. This may happen when there is a decline in interest rates, when credit spreads change, or when an issuer’s credit quality improves. Under these circumstances, the Fund may be unable to recoup all of its initial investment and will also suffer from having to reinvest in lower-yielding securities.

Counterparty Risk.  Many of the protections afforded to cleared transactions, such as the security offered by transacting through a clearing house, might not be available in connection with over the counter (“OTC”) transactions. Therefore, in those instances in which the Fund enters into OTC transactions, the Fund will be subject to the risk that its direct counterparty will not perform its obligations under the transactions and that the Fund will sustain losses.

Credit/Default Risk.  An issuer or guarantor of fixed income securities or instruments held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant deterioration in net asset value (“NAV”). These risks are more pronounced in connection with the Fund’s investments in non-investment grade fixed income securities.

Derivatives Risk.  The Fund’s use of futures, swaps, structured securities (e.g., credit linked notes) and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid, or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligations. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the Securities and Exchange Commission (“SEC”) proposed new regulations relating to a mutual fund’s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund’s ability to invest in derivatives and other instruments and adversely affect the Fund’s performance and ability to pursue its investment objectives.

Floating and Variable Rate Obligations Risk.  For floating and variable rate obligations, there may be a lag between an actual change in the underlying interest rate benchmark and the reset time for an interest payment of such an obligation, which could harm or benefit the Fund, depending on the interest rate environment or other circumstances. In a rising interest rate environment, for example, a floating or variable rate obligation that does not reset immediately would prevent the Fund from taking full advantage of rising interest rates in a timely manner. However, in a declining interest rate environment, the Fund may benefit from a lag due to an obligation’s interest rate payment not being immediately impacted by a decline in interest rates.

Certain floating and variable rate obligations have an interest rate floor feature, which prevents the interest rate payable by the security from dropping below a specified level as compared to a reference interest rate (the “reference rate”), such as LIBOR. Such a floor protects the Fund from losses resulting from a decrease in the reference rate below the specified level. However, if the reference rate is below the floor, there will be a lag between a rise in the reference rate and a rise in the interest rate payable by the obligation, and the Fund may not benefit from increasing interest rates for a significant amount of time.

Foreign Risk.  Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls (including repatriation restrictions), sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time.

Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.

Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.

Leverage Risk.  Borrowing and the use of derivatives may result in leverage and may make the Fund more volatile. The use of leverage may cause the Fund to liquidate portfolio positions to satisfy its obligations or to meet asset segregation requirements when it may not be advantageous to do so. The use of leverage by the Fund can substantially increase the adverse impact to which the Fund’s investment portfolio may be subject.

Liquidity Risk.  The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests, or other reasons. To meet redemption requests, the Fund may be forced to sell securities at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.

Loan-Related Investments Risk.  In addition to risks generally associated with debt investments, loan-related investments such as loan participations and assignments are subject to other risks. Although a loan obligation may be fully collateralized at the time of acquisition, the collateral may decline in value, be relatively illiquid, or lose all or substantially all of its value subsequent to investment. Many loan investments are subject to legal or contractual restrictions on resale and may be relatively illiquid and difficult to value. There is less readily available, reliable information about most loan investments than is the case for many other types of securities. Substantial increases in interest rates may cause an increase in loan obligation defaults. With respect to loan participations, the Fund may not always have direct recourse against a borrower if the borrower fails to pay scheduled principal and/or interest; may be subject to greater delays, expenses and risks than if the Fund had purchased a direct obligation of the borrower; and may be regarded as the creditor of the agent lender (rather than the borrower), subjecting the Fund to the creditworthiness of that lender as well. Investors in loans, such as the Fund, may not be entitled to rely on the anti-fraud protections of the federal securities laws, although they may be entitled to certain contractual remedies. The market for loan obligations may be subject to irregular trading activity, wide bid/ask spreads and extended trade settlement periods. Because transactions in many loans are subject to extended trade settlement periods, the Fund may not receive the proceeds from the sale of a loan for a period after the sale. As a result, sale proceeds related to the sale of loans may not be available to make additional investments or to meet the Fund’s redemption obligations for a period after the sale of the loans, and, as a result, the Fund may have to sell other investments or engage in borrowing transactions, such as borrowing from its credit facility, if necessary to raise cash to meet its obligations.

Senior Loans hold the most senior position in the capital structure of a business entity, and are typically secured with specific collateral, but are nevertheless usually rated below investment grade. Because Second Lien Loans are subordinated or unsecured and thus lower in priority of payment to Senior Loans, they are subject to the additional risk that the cash flow of the borrower and property securing the loan or debt, if any, may be insufficient to meet scheduled payments after giving effect to the senior secured obligations of the borrower. Second Lien Loans generally have greater price volatility than Senior Loans and may be less liquid.

Management Risk.  A strategy used by the Investment Adviser may fail to produce the intended results.

Market Risk.  The value of the securities in which the Fund invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/or general economic conditions throughout the world due to increasingly interconnected global economies and financial markets.

Non-Diversification Risk.  The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified mutual funds. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.

Non-Investment Grade Fixed Income Securities Risk.  Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as “junk bonds”) are considered speculative and are subject to the increased risk of an issuer’s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity.

Portfolio Turnover Rate Risk.  A high rate of portfolio turnover involves correspondingly greater expenses which must be borne by the Fund and its shareholders, and is also likely to result in short-term capital gains taxable to shareholders.

Short Position Risk.  The Fund may enter into a short position through a futures contract, an option or swap agreement or through short sales of any instrument that the Fund may purchase for investment. Taking short positions involves leverage of the Fund’s assets and presents various risks. If the value of the underlying instrument or market in which the Fund has taken a short position increases, then the Fund will incur a loss equal to the increase in value from the time that the short position was entered into plus any related interest payments or other fees. Taking short positions involves the risk that losses may be disproportionate, may exceed the amount invested, and, with respect to certain instruments (e.g., equities, swap options) may be unlimited.

Special Situation Investments Risk.  The Fund may make investments in event-driven situations such as recapitalizations, financings, corporate and financial restructurings, acquisitions, divestitures, reorganizations or other situations in public or private companies that may provide the Fund with an opportunity to provide debt and/or equity financing, typically on a negotiated basis. The Investment Adviser will seek special situation investment opportunities with limited downside risk relative to their potential upside. These investments are complicated and an incorrect assessment of the downside risk associated with an investment could result in significant losses to the Fund.

Swaps Risk.  In a standard “swap” transaction, two parties agree to exchange the returns, differentials in rates of return or some other amount earned or realized on the “notional amount” of predetermined investments or instruments, which may be adjusted for an interest factor. Swaps can involve greater risks than direct investment in securities, because swaps may be leveraged and are subject to counterparty risk (e.g., the risk of a counterparty’s defaulting on the obligation or bankruptcy), credit risk and pricing risk (i.e., swaps may be difficult to value). Swaps may also be considered illiquid. It may not be possible for the Fund to liquidate a swap position at an advantageous time or price, which may result in significant losses.

U.S. Government Securities Risk.  The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by those agencies, instrumentalities and government sponsored enterprises, including those issued by the Federal National Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and the Federal Home Loan Banks, are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including any legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future.
Performance
The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Institutional Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Investor, Class R and Class T Shares compare to those of a broad-based securities market index. Effective at the close of business on March 21, 2014, the Goldman Sachs Credit Strategies Fund (the “Predecessor Fund”), a closed-end management investment company that was operated as an “interval fund,” was reorganized into the Fund, with shareholders of the Predecessor Fund receiving Institutional Shares of the Fund upon consummation of the reorganization. Because the Predecessor Fund is the accounting survivor, the Fund has assumed the Predecessor Fund’s historical performance. Therefore, the Fund’s performance information for the period prior to March 24, 2014 shown below is that of the Predecessor Fund and performance information prior to this date reflects the Predecessor Fund’s investment strategies and policies. The Fund’s current investment strategies and policies, including the ability to implement short positions, are different from those of the Predecessor Fund. As a result, the Fund’s performance may differ substantially from the performance information shown below for the period prior to March 24, 2014.

Past performance of the Fund, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information for the Fund is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to the Predecessor Fund prior to March 24, 2014. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
TOTAL RETURN CALENDAR YEAR (INSTITUTIONAL)
Bar Chart
The total return for Institutional Shares for the six-month period
ended June 30, 2017 was 2.26%.

Best Quarter
Q4 ‘11              +4.72%

Worst Quarter
Q4 ‘14              –3.74%
AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Average Annual Total Returns - Goldman Sachs Long Short Credit Strategies Fund
1 Year
5 Years
Since Inception
Inception Date
Class A Shares [1] (0.39%) 2.51% 4.74% Apr. 30, 2014
Class C Shares [1] 1.61% 2.51% 4.48% Apr. 30, 2014
Institutional Shares [1] 3.87% 3.48% 5.41% Mar. 24, 2014
Institutional Shares | Returns After Taxes on Distributions [1] 2.17% 1.31% 3.04% Mar. 24, 2014
Institutional Shares | Returns After Taxes on Distributions and Sale of Fund Shares [1] 2.18% 1.76% 3.27% Mar. 24, 2014
Investor Shares [1] 3.77% 3.44% 5.39% Apr. 30, 2014
Class R Shares [1] 3.26% 3.02% 5.01% Apr. 30, 2014
Class T Shares [1],[2] (0.39%) 2.51% 4.74% Jul. 28, 2017
Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index (reflects no deduction for fees or expenses) [1] 0.66% 0.34% 0.32%  
[1] The average annual total return figures for the Fund's Shares (other than Class A Shares), which do not impose an initial sales charge, do not reflect an initial sales charge for the periods shown. Prior to March 24, 2014 (the effective date of the reorganization of the Predecessor Fund into the Fund), the maximum initial sales charge applicable to sales of Common Shares of the Predecessor Fund was 2.50%, which is not reflected in the average annual total return figures shown. Class A, Class C, Investor, and Class R Shares commenced operations on April 30, 2014, and Institutional Shares commenced operations on March 24, 2014. Prior to April 30, 2014, the performance of the Class A, Class C, Investor, and Class R Shares is that of the Institutional Shares (for the period between March 24, 2014 and April 30, 2014) and that of the Predecessor Fund's Common Shares (for the period prior to March 24, 2014). Prior to March 24, 2014, the performance of the Institutional Shares is that of the Predecessor Fund's Common Shares. Performance has been adjusted for the Class A, Class C and Class R Shares to reflect the fees of these share classes. Performance has not been adjusted for the Institutional and Investor Shares to reflect the fees of these share classes, however, if performance had been adjusted, it would have been higher than that of the Common Shares.
[2] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
The Predecessor Fund commenced operations on June 15, 2009.
The after-tax returns are for Institutional Shares only. The after-tax returns for Class A, Class C, Investor and Class T Shares, and returns for Class R Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

XML 74 R165.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName GOLDMAN SACHS TRUST
Prospectus Date rr_ProspectusDate Jul. 28, 2017
Goldman Sachs Long Short Credit Strategies Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Goldman Sachs Long Short Credit Strategies Fund—Summary
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Goldman Sachs Long Short Credit Strategies Fund (the “Fund”) seeks an absolute return comprised of income and capital appreciation.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 45 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 48 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 84 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees
(fees paid directly from your investment):
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination July 28, 2018
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 266% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 266.00%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock A contingent deferred sales charge (“CDSC”) of 1.00% is imposed on Class C Shares redeemed within 12 months of purchase.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 45 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 48 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 84 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates The “Other Expenses” for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees The “Total Annual Fund Operating Expenses” do not correlate to the ratios of net and total expenses to average net assets provided in the Financial Highlights, which reflect the operating expenses of the Fund and do not include “Acquired Fund Fees and Expenses”.
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Investor, Class R and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Investor, Class R and/or Class T Shares at the end of those periods, unless otherwise stated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the fee waiver and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption Assuming complete redemption at end of period
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption Assuming no redemption
Strategy [Heading] rr_StrategyHeading Principal Strategy
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund will seek to achieve its investment objective through long and short exposures to “credit related instruments.” Under normal market conditions, the Fund will invest at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in the following credit related instruments: (i) fixed rate and floating rate income securities; (ii) loans and loan participations including: (a) senior secured floating rate and fixed rate loans or debt (“Senior Loans”), (b) second lien or other subordinated or unsecured floating rate and fixed rate loans or debt (“Second Lien Loans”) and (c) other types of secured or unsecured loans with fixed, floating, or variable interest rates; (iii) convertible securities; (iv) collateralized debt, bond and loan obligations; (v) bank and corporate debt obligations; (vi) securities issued or guaranteed by the U.S. government or its agencies, instrumentalities or sponsored enterprises (“U.S. Government Securities”), and securities issued by or on behalf of states, territories, and possessions of the United States (including the District of Columbia); (vii) preferred securities and trust preferred securities; (viii) structured securities, including credit-linked notes; and/or (ix) listed and unlisted, public and private, rated and unrated debt instruments and other obligations, including those of financially troubled companies (sometimes known as “distressed securities” or “defaulted securities”).

The Fund may invest in instruments and obligations directly, or indirectly by investing in derivative or synthetic instruments, including, without limitation, credit default swaps (including credit default swaps on credit related indices) and loan credit default swaps. The Fund will opportunistically seek short exposures to credit related instruments through the use of such derivatives or synthetic instruments, including, but not limited to, credit default swaps (including credit default swaps on credit related indices).

The Fund intends to implement short positions for hedging purposes or to seek to enhance absolute return, and may do so by using swaps or futures, or through short sales of any instrument that the Fund may purchase for investment. For example, the Fund may buy credit default swaps. Credit default swaps involve the receipt of floating or fixed rate payments in exchange for assuming potential credit losses on an underlying security (or group of securities). When the Fund is the buyer of a credit default swap (buying protection), it may make periodic payments to the seller of the credit default swap to obtain protection against a credit default on a specified underlying asset (or group of assets). If a default occurs, the seller of a credit default swap may be required to pay the Fund the notional amount of the credit default swap on a specified security (or group of securities). On the other hand, when the Fund is a seller of a credit default swap (commonly known as selling protection), in addition to the credit exposure the Fund has on the other assets held in its portfolio, the Fund is also subject to the credit exposure on the notional amount of the swap since, in the event of a credit default, the Fund may be required to pay the notional amount of the credit default swap on a specified security (or group of securities) to the buyer of the credit swap. The Fund will be the seller of a credit default swap only when the credit of the underlying asset is deemed by the Investment Adviser to meet the Fund’s minimum credit criteria at the time the swap is first entered into.

The Fund may invest in U.S. dollar denominated as well as non-U.S. dollar denominated (foreign) securities. The Fund may also hold cash, and/or invest in cash equivalents.

There is no minimum credit rating for instruments in which the Fund may invest, and the Fund may invest without limitation in securities below investment grade. Non-investment grade fixed income securities (commonly known as “junk bonds”) are rated BB+, Ba1 or below by a nationally recognized statistical rating organization (“NRSRO”), or, if unrated, determined by the Investment Adviser to be of comparable credit quality. The Fund may also invest in credit instruments of any maturity or duration.

When making investments, the Investment Adviser seeks to identify securities that are both fundamentally mispriced and have a potential catalyst for value creation. Within this universe, the Investment Adviser seeks perceived risk-adjusted return opportunities with a focus on:
  • Asymmetric return profile (i.e., upside versus downside potential);
  • Relative value analysis and impact on the current portfolio;
  • Technical dynamics in the market (i.e., understanding the price movements in the market relative to supply and demand); and
  • Overall risk/return potential.
The Fund employs a sell discipline aimed at minimizing losses. Although the portfolio management team considers many factors when implementing trades, there are three primary reasons why the Fund would exit an investment or trade:
  • Position Target Achieved—Position targets are established at the time of investment and monitored on both an absolute and relative value basis. An asset is typically sold as it approaches the target, unless changes in circumstances dictate a revised target.
  • Credit Profile Change/Credit Event—The loss of (or change to) a catalyst or change in fundamentals which no longer support the initial investment decision will cause the team to exit a position.
  • Portfolio Re-Allocation—Each position is monitored on a relative value basis versus other holdings and market opportunities. Positions are sold or reduced to maintain proper portfolio diversification.
The Fund seeks an absolute return comprised of income and capital appreciation. Absolute return performance may be uncorrelated to fixed income and equity markets over the long-term. The Fund’s investment strategies are intended to reduce volatility (i.e., the Fund may be less impacted by market fluctuations in rising and falling market conditions).

The Fund’s benchmark index is the Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index.

THE FUND IS NON-DIVERSIFIED UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED (“INVESTMENT COMPANY ACT”), AND MAY INVEST A LARGER PERCENTAGE OF ITS ASSETS IN FEWER ISSUERS THAN DIVERSIFIED MUTUAL FUNDS.
Risk [Heading] rr_RiskHeading Principal Risks of the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Loss of money is a risk of investing in the Fund. The investment program of the Fund is speculative, entails substantial risks and includes alternative investment techniques not employed by traditional mutual funds. The Fund should not be relied upon as a complete investment program. The Fund’s investment techniques (if they do not perform as designed) may increase the volatility of performance and the risk of investment loss, including the loss of the entire amount that is invested, and there can be no assurance that the investment objective of the Fund will be achieved. Moreover, certain investment techniques which the Fund may employ in its investment program can substantially increase the adverse impact to which the Fund’s investments may be subject. There is no assurance that the investment processes of the Fund will be successful, that the techniques utilized therein will be implemented successfully or that they are adequate for their intended uses, or that the discretionary element of the investment processes of the Fund will be exercised in a manner that is successful or that is not adverse to the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. Investors should carefully consider these risks before investing.

Call/Prepayment Risk.  An issuer could exercise its right to pay principal on an obligation held by the Fund (such as a mortgage-backed security) earlier than expected. This may happen when there is a decline in interest rates, when credit spreads change, or when an issuer’s credit quality improves. Under these circumstances, the Fund may be unable to recoup all of its initial investment and will also suffer from having to reinvest in lower-yielding securities.

Counterparty Risk.  Many of the protections afforded to cleared transactions, such as the security offered by transacting through a clearing house, might not be available in connection with over the counter (“OTC”) transactions. Therefore, in those instances in which the Fund enters into OTC transactions, the Fund will be subject to the risk that its direct counterparty will not perform its obligations under the transactions and that the Fund will sustain losses.

Credit/Default Risk.  An issuer or guarantor of fixed income securities or instruments held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant deterioration in net asset value (“NAV”). These risks are more pronounced in connection with the Fund’s investments in non-investment grade fixed income securities.

Derivatives Risk.  The Fund’s use of futures, swaps, structured securities (e.g., credit linked notes) and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid, or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligations. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the Securities and Exchange Commission (“SEC”) proposed new regulations relating to a mutual fund’s use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact the Fund’s ability to invest in derivatives and other instruments and adversely affect the Fund’s performance and ability to pursue its investment objectives.

Floating and Variable Rate Obligations Risk.  For floating and variable rate obligations, there may be a lag between an actual change in the underlying interest rate benchmark and the reset time for an interest payment of such an obligation, which could harm or benefit the Fund, depending on the interest rate environment or other circumstances. In a rising interest rate environment, for example, a floating or variable rate obligation that does not reset immediately would prevent the Fund from taking full advantage of rising interest rates in a timely manner. However, in a declining interest rate environment, the Fund may benefit from a lag due to an obligation’s interest rate payment not being immediately impacted by a decline in interest rates.

Certain floating and variable rate obligations have an interest rate floor feature, which prevents the interest rate payable by the security from dropping below a specified level as compared to a reference interest rate (the “reference rate”), such as LIBOR. Such a floor protects the Fund from losses resulting from a decrease in the reference rate below the specified level. However, if the reference rate is below the floor, there will be a lag between a rise in the reference rate and a rise in the interest rate payable by the obligation, and the Fund may not benefit from increasing interest rates for a significant amount of time.

Foreign Risk.  Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls (including repatriation restrictions), sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time.

Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund’s investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.

Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.

Leverage Risk.  Borrowing and the use of derivatives may result in leverage and may make the Fund more volatile. The use of leverage may cause the Fund to liquidate portfolio positions to satisfy its obligations or to meet asset segregation requirements when it may not be advantageous to do so. The use of leverage by the Fund can substantially increase the adverse impact to which the Fund’s investment portfolio may be subject.

Liquidity Risk.  The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests, or other reasons. To meet redemption requests, the Fund may be forced to sell securities at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.

Loan-Related Investments Risk.  In addition to risks generally associated with debt investments, loan-related investments such as loan participations and assignments are subject to other risks. Although a loan obligation may be fully collateralized at the time of acquisition, the collateral may decline in value, be relatively illiquid, or lose all or substantially all of its value subsequent to investment. Many loan investments are subject to legal or contractual restrictions on resale and may be relatively illiquid and difficult to value. There is less readily available, reliable information about most loan investments than is the case for many other types of securities. Substantial increases in interest rates may cause an increase in loan obligation defaults. With respect to loan participations, the Fund may not always have direct recourse against a borrower if the borrower fails to pay scheduled principal and/or interest; may be subject to greater delays, expenses and risks than if the Fund had purchased a direct obligation of the borrower; and may be regarded as the creditor of the agent lender (rather than the borrower), subjecting the Fund to the creditworthiness of that lender as well. Investors in loans, such as the Fund, may not be entitled to rely on the anti-fraud protections of the federal securities laws, although they may be entitled to certain contractual remedies. The market for loan obligations may be subject to irregular trading activity, wide bid/ask spreads and extended trade settlement periods. Because transactions in many loans are subject to extended trade settlement periods, the Fund may not receive the proceeds from the sale of a loan for a period after the sale. As a result, sale proceeds related to the sale of loans may not be available to make additional investments or to meet the Fund’s redemption obligations for a period after the sale of the loans, and, as a result, the Fund may have to sell other investments or engage in borrowing transactions, such as borrowing from its credit facility, if necessary to raise cash to meet its obligations.

Senior Loans hold the most senior position in the capital structure of a business entity, and are typically secured with specific collateral, but are nevertheless usually rated below investment grade. Because Second Lien Loans are subordinated or unsecured and thus lower in priority of payment to Senior Loans, they are subject to the additional risk that the cash flow of the borrower and property securing the loan or debt, if any, may be insufficient to meet scheduled payments after giving effect to the senior secured obligations of the borrower. Second Lien Loans generally have greater price volatility than Senior Loans and may be less liquid.

Management Risk.  A strategy used by the Investment Adviser may fail to produce the intended results.

Market Risk.  The value of the securities in which the Fund invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/or general economic conditions throughout the world due to increasingly interconnected global economies and financial markets.

Non-Diversification Risk.  The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified mutual funds. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.

Non-Investment Grade Fixed Income Securities Risk.  Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as “junk bonds”) are considered speculative and are subject to the increased risk of an issuer’s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity.

Portfolio Turnover Rate Risk.  A high rate of portfolio turnover involves correspondingly greater expenses which must be borne by the Fund and its shareholders, and is also likely to result in short-term capital gains taxable to shareholders.

Short Position Risk.  The Fund may enter into a short position through a futures contract, an option or swap agreement or through short sales of any instrument that the Fund may purchase for investment. Taking short positions involves leverage of the Fund’s assets and presents various risks. If the value of the underlying instrument or market in which the Fund has taken a short position increases, then the Fund will incur a loss equal to the increase in value from the time that the short position was entered into plus any related interest payments or other fees. Taking short positions involves the risk that losses may be disproportionate, may exceed the amount invested, and, with respect to certain instruments (e.g., equities, swap options) may be unlimited.

Special Situation Investments Risk.  The Fund may make investments in event-driven situations such as recapitalizations, financings, corporate and financial restructurings, acquisitions, divestitures, reorganizations or other situations in public or private companies that may provide the Fund with an opportunity to provide debt and/or equity financing, typically on a negotiated basis. The Investment Adviser will seek special situation investment opportunities with limited downside risk relative to their potential upside. These investments are complicated and an incorrect assessment of the downside risk associated with an investment could result in significant losses to the Fund.

Swaps Risk.  In a standard “swap” transaction, two parties agree to exchange the returns, differentials in rates of return or some other amount earned or realized on the “notional amount” of predetermined investments or instruments, which may be adjusted for an interest factor. Swaps can involve greater risks than direct investment in securities, because swaps may be leveraged and are subject to counterparty risk (e.g., the risk of a counterparty’s defaulting on the obligation or bankruptcy), credit risk and pricing risk (i.e., swaps may be difficult to value). Swaps may also be considered illiquid. It may not be possible for the Fund to liquidate a swap position at an advantageous time or price, which may result in significant losses.

U.S. Government Securities Risk.  The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by those agencies, instrumentalities and government sponsored enterprises, including those issued by the Federal National Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and the Federal Home Loan Banks, are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including any legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future.
Risk Lose Money [Text] rr_RiskLoseMoney Loss of money is a risk of investing in the Fund.
Risk Nondiversified Status [Text] rr_RiskNondiversifiedStatus Non-Diversification Risk.  The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified mutual funds. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Institutional Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Investor, Class R and Class T Shares compare to those of a broad-based securities market index. Effective at the close of business on March 21, 2014, the Goldman Sachs Credit Strategies Fund (the “Predecessor Fund”), a closed-end management investment company that was operated as an “interval fund,” was reorganized into the Fund, with shareholders of the Predecessor Fund receiving Institutional Shares of the Fund upon consummation of the reorganization. Because the Predecessor Fund is the accounting survivor, the Fund has assumed the Predecessor Fund’s historical performance. Therefore, the Fund’s performance information for the period prior to March 24, 2014 shown below is that of the Predecessor Fund and performance information prior to this date reflects the Predecessor Fund’s investment strategies and policies. The Fund’s current investment strategies and policies, including the ability to implement short positions, are different from those of the Predecessor Fund. As a result, the Fund’s performance may differ substantially from the performance information shown below for the period prior to March 24, 2014.

Past performance of the Fund, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information for the Fund is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus.

The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to the Predecessor Fund prior to March 24, 2014. If the sales loads were reflected, returns would be less. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Institutional Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Investor, Class R and Class T Shares compare to those of a broad-based securities market index.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess As of the date of the Prospectus, Class T Shares have not commenced operations.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.gsamfunds.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance of the Fund, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading TOTAL RETURN CALENDAR YEAR (INSTITUTIONAL)
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The bar chart (including “Best Quarter” and “Worst Quarter” information) does not reflect the sales loads applicable to the Predecessor Fund prior to March 24, 2014. If the sales loads were reflected, returns would be less.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The total return for Institutional Shares for the six-month period
ended June 30, 2017 was 2.26%.

Best Quarter
Q4 ‘11              +4.72%

Worst Quarter
Q4 ‘14              –3.74%
Performance Table Heading rr_PerformanceTableHeading AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Performance Table Does Reflect Sales Loads rr_PerformanceTableDoesReflectSalesLoads Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown The after-tax returns are for Institutional Shares only. The after-tax returns for Class A, Class C, Investor and Class T Shares, and returns for Class R Shares (which are offered exclusively to employee benefit plans), will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The after-tax returns are for Institutional Shares only. The after-tax returns for Class A, Class C, Investor and Class T Shares, and returns for Class R Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table Footnotes rr_PerformanceTableFootnotesTextBlock The Predecessor Fund commenced operations on June 15, 2009.
Goldman Sachs Long Short Credit Strategies Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 3.75%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 1.00%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.33%
Other Expenses rr_OtherExpensesOverAssets 0.33% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.03%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.61% [3]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.14%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.47% [3],[5]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 100,000
1 Year rr_ExpenseExampleYear01 519
3 Years rr_ExpenseExampleYear03 851
5 Years rr_ExpenseExampleYear05 1,206
10 Years rr_ExpenseExampleYear10 $ 2,203
1 Year rr_AverageAnnualReturnYear01 (0.39%) [6]
5 Years rr_AverageAnnualReturnYear05 2.51% [6]
Since Inception rr_AverageAnnualReturnSinceInception 4.74% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Apr. 30, 2014 [6]
Goldman Sachs Long Short Credit Strategies Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Management Fees rr_ManagementFeesOverAssets 1.00%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
All Other Expenses rr_Component3OtherExpensesOverAssets 0.33%
Other Expenses rr_OtherExpensesOverAssets 0.58% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.03%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.36% [3]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.14%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 2.22% [3],[5]
1 Year rr_ExpenseExampleYear01 $ 325
3 Years rr_ExpenseExampleYear03 723
5 Years rr_ExpenseExampleYear05 1,248
10 Years rr_ExpenseExampleYear10 2,686
1 Year rr_ExpenseExampleNoRedemptionYear01 225
3 Years rr_ExpenseExampleNoRedemptionYear03 723
5 Years rr_ExpenseExampleNoRedemptionYear05 1,248
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,686
1 Year rr_AverageAnnualReturnYear01 1.61% [6]
5 Years rr_AverageAnnualReturnYear05 2.51% [6]
Since Inception rr_AverageAnnualReturnSinceInception 4.48% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Apr. 30, 2014 [6]
Goldman Sachs Long Short Credit Strategies Fund | Institutional  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 1.00%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.24%
Other Expenses rr_OtherExpensesOverAssets 0.24% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.03%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.27% [3]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.14%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.13% [3],[5]
1 Year rr_ExpenseExampleYear01 $ 115
3 Years rr_ExpenseExampleYear03 389
5 Years rr_ExpenseExampleYear05 684
10 Years rr_ExpenseExampleYear10 $ 1,522
2010 rr_AnnualReturn2010 8.77%
2011 rr_AnnualReturn2011 4.76%
2012 rr_AnnualReturn2012 10.63%
2013 rr_AnnualReturn2013 5.35%
2014 rr_AnnualReturn2014 (2.68%)
2015 rr_AnnualReturn2015 0.68%
2016 rr_AnnualReturn2016 3.87%
Year to Date Return, Label rr_YearToDateReturnLabel total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 2.26%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Dec. 31, 2011
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 4.72%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2014
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (3.74%)
1 Year rr_AverageAnnualReturnYear01 3.87% [6]
5 Years rr_AverageAnnualReturnYear05 3.48% [6]
Since Inception rr_AverageAnnualReturnSinceInception 5.41% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 24, 2014 [6]
Goldman Sachs Long Short Credit Strategies Fund | Investor  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 1.00%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.33%
Other Expenses rr_OtherExpensesOverAssets 0.33% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.03%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.36% [3]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.14%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.22% [3],[5]
1 Year rr_ExpenseExampleYear01 $ 124
3 Years rr_ExpenseExampleYear03 417
5 Years rr_ExpenseExampleYear05 731
10 Years rr_ExpenseExampleYear10 $ 1,623
1 Year rr_AverageAnnualReturnYear01 3.77% [6]
5 Years rr_AverageAnnualReturnYear05 3.44% [6]
Since Inception rr_AverageAnnualReturnSinceInception 5.39% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Apr. 30, 2014 [6]
Goldman Sachs Long Short Credit Strategies Fund | Class R  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 1.00%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.33%
Other Expenses rr_OtherExpensesOverAssets 0.33% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.03%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.86% [3]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.14%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.72% [3],[5]
1 Year rr_ExpenseExampleYear01 $ 175
3 Years rr_ExpenseExampleYear03 571
5 Years rr_ExpenseExampleYear05 993
10 Years rr_ExpenseExampleYear10 $ 2,168
1 Year rr_AverageAnnualReturnYear01 3.26% [6]
5 Years rr_AverageAnnualReturnYear05 3.02% [6]
Since Inception rr_AverageAnnualReturnSinceInception 5.01% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Apr. 30, 2014 [6]
Goldman Sachs Long Short Credit Strategies Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 1.00%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 0.33%
Other Expenses rr_OtherExpensesOverAssets 0.33% [2]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.03%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.61% [3]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (0.14%) [4]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.47% [3],[5]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
1 Year rr_ExpenseExampleYear01 396
3 Years rr_ExpenseExampleYear03 732
5 Years rr_ExpenseExampleYear05 1,091
10 Years rr_ExpenseExampleYear10 $ 2,102
1 Year rr_AverageAnnualReturnYear01 (0.39%) [6],[7]
5 Years rr_AverageAnnualReturnYear05 2.51% [6],[7]
Since Inception rr_AverageAnnualReturnSinceInception 4.74% [6],[7]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [6],[7]
Goldman Sachs Long Short Credit Strategies Fund | Returns After Taxes on Distributions | Institutional  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.17% [6]
5 Years rr_AverageAnnualReturnYear05 1.31% [6]
Since Inception rr_AverageAnnualReturnSinceInception 3.04% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 24, 2014 [6]
Goldman Sachs Long Short Credit Strategies Fund | Returns After Taxes on Distributions and Sale of Fund Shares | Institutional  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.18% [6]
5 Years rr_AverageAnnualReturnYear05 1.76% [6]
Since Inception rr_AverageAnnualReturnSinceInception 3.27% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 24, 2014 [6]
Goldman Sachs Long Short Credit Strategies Fund | Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index (reflects no deduction for fees or expenses)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.66% [6]
5 Years rr_AverageAnnualReturnYear05 0.34% [6]
Since Inception rr_AverageAnnualReturnSinceInception 0.32% [6]
[1] A contingent deferred sales charge ("CDSC") of 1.00% is imposed on Class C Shares redeemed within 12 months of purchase.
[2] The "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[3] The "Total Annual Fund Operating Expenses" do not correlate to the ratios of net and total expenses to average net assets provided in the Financial Highlights, which reflect the operating expenses of the Fund and do not include "Acquired Fund Fees and Expenses".
[4] The Investment Adviser has agreed to (i) waive a portion of its management fee payable by the Fund in an amount equal to any management fee it earns as an investment adviser to any of the affiliated funds in which the Fund invests, and (ii) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.094% of the Fund's average daily net assets. These arrangements will remain in effect through at least July 28, 2018, and prior to such date, the Investment Adviser may not terminate the arrangements without the approval of the Board of Trustees.
[5] After Fee Waiver and Expense Limitation
[6] The average annual total return figures for the Fund's Shares (other than Class A Shares), which do not impose an initial sales charge, do not reflect an initial sales charge for the periods shown. Prior to March 24, 2014 (the effective date of the reorganization of the Predecessor Fund into the Fund), the maximum initial sales charge applicable to sales of Common Shares of the Predecessor Fund was 2.50%, which is not reflected in the average annual total return figures shown. Class A, Class C, Investor, and Class R Shares commenced operations on April 30, 2014, and Institutional Shares commenced operations on March 24, 2014. Prior to April 30, 2014, the performance of the Class A, Class C, Investor, and Class R Shares is that of the Institutional Shares (for the period between March 24, 2014 and April 30, 2014) and that of the Predecessor Fund's Common Shares (for the period prior to March 24, 2014). Prior to March 24, 2014, the performance of the Institutional Shares is that of the Predecessor Fund's Common Shares. Performance has been adjusted for the Class A, Class C and Class R Shares to reflect the fees of these share classes. Performance has not been adjusted for the Institutional and Investor Shares to reflect the fees of these share classes, however, if performance had been adjusted, it would have been higher than that of the Common Shares.
[7] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
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Goldman Sachs Strategic Macro Fund
Goldman Sachs Strategic Macro Fund—Summary
Investment Objective
The Goldman Sachs Strategic Macro Fund (formerly Goldman Sachs Fixed Income Macro Strategies Fund) (the “Fund”) seeks to generate long-term absolute return.
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 45 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 48 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 84 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees
(fees paid directly from your investment):
Shareholder Fees - Goldman Sachs Strategic Macro Fund
Class A
Class C
Institutional
Investor
Class R
Class T
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 3.75% none none none none 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) [1] none 1.00% none none none none
[1] A contingent deferred sales charge ("CDSC") of 1.00% is imposed on Class C Shares redeemed within 12 months of purchase.
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment):
Annual Fund Operating Expenses - Goldman Sachs Strategic Macro Fund
Class A
Class C
Institutional
Investor
Class R
Class T
Management Fees [1] 0.95% 0.95% 0.95% 0.95% 0.95% 0.95%
Distribution and/or Service (12b-1) Fees 0.25% 0.75% none none 0.50% 0.25%
Other Expenses [2] 1.19% 1.44% 1.10% 1.19% 1.19% 1.19%
Service Fees none 0.25% none none none none
All Other Expenses 1.19% 1.19% 1.10% 1.19% 1.19% 1.19%
Acquired Fund Fees and Expenses 0.30% 0.30% 0.30% 0.30% 0.30% 0.30%
Total Annual Fund Operating Expenses [3] 2.69% 3.44% 2.35% 2.44% 2.94% 2.69%
Fee Waiver and Expense Limitation [4] (1.35%) (1.35%) (1.29%) (1.35%) (1.35%) (1.35%)
Total Annual Fund Operating Expenses [3],[5] 1.34% 2.09% 1.06% 1.09% 1.59% 1.34%
[1] The Fund's "Management Fees" have been restated to reflect current fees.
[2] The "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[3] The "Total Annual Fund Operating Expenses" do not correlate to the ratios of net and total expenses to average net assets provided in the Financial Highlights, which reflect the operating expenses of the Fund and do not include "Acquired Fund Fees and Expenses".
[4] The Investment Adviser has agreed to (i) waive a portion of the management fee in an amount equal to the management fee paid to the Investment Adviser by the Subsidiary at an annual rate of 0.42% of the Subsidiary's average daily net assets, and (ii) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.064% of the Fund's average daily net assets. Additionally, Goldman Sachs & Co. LLC ("Goldman Sachs"), the Fund's transfer agent, has agreed to waive a portion of its transfer agency fee (a component of "Other Expenses") equal to 0.06% as an annual percentage rate of the average daily net assets attributable to Class A, Class C, Investor, Class R, and Class T Shares of the Fund. These arrangements will remain in effect through at least July 28, 2018, and prior to such date, the Investment Adviser may not terminate the arrangements without the approval of the Board of Trustees.
[5] After Fee Waivers and Expense Limitation
Expense Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Investor, Class R and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Investor, Class R and/or Class T Shares at the end of those periods, unless otherwise stated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the fee waivers and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Assuming complete redemption at end of period
Expense Example - Goldman Sachs Strategic Macro Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A Shares 506 1,056 1,631 3,188
Class C Shares 312 931 1,673 3,631
Institutional Shares 108 610 1,138 2,587
Investor Shares 111 631 1,178 2,674
Class R Shares 162 782 1,429 3,165
Class T Shares 383 939 1,522 3,100
Assuming no redemption
Expense Example, No Redemption
1 Year
3 Years
5 Years
10 Years
Goldman Sachs Strategic Macro Fund | Class C Shares | USD ($) 212 931 1,673 3,631
Portfolio Turnover
The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 376% of the average value of its portfolio.
Principal Strategy
The Investment Adviser seeks to achieve its investment objective through the implementation of relative value, macro, long/short and other strategies that aim to exploit disparities or inefficiencies in the global fixed income, currency and commodities markets. The Fund may also employ a macro hedge at the portfolio level to remove unintended market directional risks, which may enable the Fund to pursue returns in a variety of market cycles. Absolute return performance may be uncorrelated to fixed income and equity markets over the long-term.

The Fund invests primarily in fixed income investments, including but not limited to: U.S. and foreign investment grade and non-investment grade fixed income investments, securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises (“U.S. Government Securities”), agency securities, agency mortgage-backed securities, as well as pooled investment vehicles, derivatives and other instruments that provide exposure to such investments. The Fund may invest in fixed income securities of any maturity. The Fund may invest in unregistered securities, including, for example, restricted securities eligible for resale pursuant to an exemption from registration under the Securities Act of 1933, as amended (“Securities Act”).

The Fund generally intends to invest in the following securities using a long/short approach: U.S. dollar denominated non-U.S. sovereign debt, corporate debt securities, quasi-sovereign securities, non-agency mortgage-backed securities, asset-backed securities, municipal securities, loans and loan participations and convertible securities, preferred stock, as well as pooled investment vehicles, derivatives and other instruments that provide exposure to such investments. The Fund’s investments in loans and loan participations may include, but are not limited to: (a) senior secured floating rate and fixed rate loans or debt (“Senior Loans”), (b) second lien or other subordinated or unsecured floating rate and fixed rate loans or debt (“Second Lien Loans”) and (c) other types of secured or unsecured loans with fixed, floating or variable interest rates. A long/short approach is a strategy that seeks to produce returns with risk and volatility that are uncorrelated with general global market risk and volatility by simultaneously taking long and short exposures in approximately equal amounts.

Non-investment grade fixed income securities (commonly known as “junk bonds”) are securities rated BB+, Ba1 or below by a nationally recognized statistical rating organization (“NRSRO”), or, if unrated, determined by the Investment Adviser to be of comparable credit quality.

The Fund may invest in sovereign debt securities and other instruments of issuers in emerging market countries. Such investments may include sovereign debt issued by emerging countries that have sovereign ratings below investment grade or that are unrated. There is no limitation to the amount the Fund invests in non-investment grade or emerging market securities. The Fund’s investments may be denominated in currencies other than the U.S. dollar.

The Fund may engage in forward foreign currency transactions for both investment and hedging purposes. The Fund also intends to invest in other derivative instruments. Derivatives are instruments that have a value based on another instrument, exchange rate, interest rate or index. The Fund’s investments in derivatives may include, in addition to forward foreign currency exchange contracts, futures contracts (including interest rate futures and Treasury and sovereign bond futures), options (including options on futures contracts, swaps, bonds, stocks and indexes), swaps (including credit default, mortgage, index, basis, total return, inflation, inflation asset, volatility, correlation, variance and currency swaps), and other forward contracts. The Fund may use derivatives instead of buying and selling bonds to manage duration, or to gain long or short exposure to individual securities, a credit or asset backed index or equity markets.

The Fund may implement short positions and may do so by using swaps or futures, or through short sales of any instrument that the Fund may purchase for investment. For example, the Fund may enter into a futures contract pursuant to which it agrees to sell an asset (that it does not currently own) at a specified price at a specified point in the future. This gives the Fund a short position with respect to that asset. The Fund will benefit to the extent the asset decreases in value (and will experience losses to the extent the asset increases in value) between the time it enters into the futures contract and the agreed date of sale. Alternatively, the Fund may sell an instrument (e.g., a bond, or a futures contract) it does not own in anticipation of a decline in the market value of the instrument, and then borrow the instrument to make delivery to the buyer. In these transactions, the Fund is obligated to replace the instrument borrowed by purchasing it at the market price at the time of replacement.

Additionally, the Fund uses short positions and derivatives for both hedging and non-hedging purposes.

The Fund may sell investments that the portfolio managers believe are no longer favorable with regard to these factors.

Investment in Cayman Subsidiary. The Fund intends to gain exposure to the commodities markets by investing in a wholly-owned subsidiary of the Fund organized as a company under the laws of the Cayman Islands (the “Subsidiary”). The Subsidiary is advised by the Investment Adviser and seeks to gain commodities exposure.

The Fund may invest up to 25% of its total assets in the Subsidiary. The Subsidiary primarily obtains its commodity exposure by investing in commodity index-linked derivative instruments (which may include total return swaps and commodities futures). Commodity-linked swaps are derivative instruments whereby the cash flows agreed upon between counterparties are dependent upon the price of the underlying commodity or commodity index over the life of the swap. Commodity futures contracts are standardized exchange-traded contracts that provide for the sale, or purchase of, or economic exposure to the price of, a commodity or a specified basket of commodities at a future time. The value of these commodity-linked derivatives will rise and fall in response to changes in the underlying commodity or commodity index. Commodity-linked derivatives expose the Subsidiary and the Fund economically to movements in commodity prices. Such instruments may be leveraged so that small changes in the underlying commodity prices would result in disproportionate changes in the value of the instruments. Neither the Fund nor the Subsidiary invests directly in commodities. The Subsidiary will also invest in other instruments, including fixed income securities, either as investments or to serve as margin or collateral for its swap positions.

Exposure to Commodities. The Fund primarily gains exposure to commodities by investing in the Subsidiary, and it may also gain exposure to commodities by investing in commodity index-linked structured notes, publicly traded partnerships (“PTPs”), exchange-traded funds (“ETFs”), affiliated or unaffiliated investment companies and commodities futures. PTPs are limited partnerships, the interests (or “units”) in which are traded on public exchanges, just like ETFs. The Fund may invest in PTPs that are commodity pools.

The Fund’s benchmark index is the Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index. References in the Prospectus to the Fund’s benchmark are for informational purposes only and are not an indication of how the Fund is managed.

THE FUND IS NON-DIVERSIFIED UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED (THE “INVESTMENT COMPANY ACT”), AND MAY INVEST A LARGER PERCENTAGE OF ITS ASSETS IN FEWER ISSUERS THAN DIVERSIFIED MUTUAL FUNDS.
Principal Risks of the Fund
Loss of money is a risk of investing in the Fund. The investment program of the Fund is speculative, entails substantial risks and includes alternative investment techniques not employed by traditional mutual funds. The Fund should not be relied upon as a complete investment program. The Fund’s investment techniques (if they do not perform as designed) may increase the volatility of performance and the risk of investment loss, including the loss of the entire amount that is invested, and there can be no assurance that the investment objective of the Fund will be achieved. Moreover, certain investment techniques which the Fund may employ in its investment program can substantially increase the adverse impact to which the Fund’s investments may be subject. There is no assurance that the investment processes of the Fund will be successful, that the techniques utilized therein will be implemented successfully or that they are adequate for their intended uses, or that the discretionary element of the investment processes of the Fund will be exercised in a manner that is successful or that is not adverse to the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. Investors should carefully consider these risks before investing.

In addition, the Fund’s net asset value (“NAV”) may fluctuate substantially over time. Because the Fund attempts to exploit disparities or inefficiencies in the global fixed income, currency and commodities markets, the Fund’s performance may potentially be lower than the returns of the broader stock market. Accordingly, the Fund should be considered a speculative investment entailing a high degree of risk and is not suitable for all investors.

Commodity Sector Risk.  Exposure to the commodities markets may subject the Fund to greater volatility than investments in more traditional securities. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. The prices of energy, industrial metals, precious metals, agriculture and livestock sector commodities may fluctuate widely due to factors such as changes in value, supply and demand and governmental regulatory policies. The commodity-linked investments in which the Fund may enter into may involve companies in the financial services sector, and events affecting the financial services sector may cause the Fund's share value to fluctuate.

Counterparty Risk.  Many of the protections afforded to cleared transactions, such as the security afforded by transacting through clearing house, might not be available in connection with over the counter (“OTC”) transactions. Therefore, in those instances in which the Fund enters into OTC transactions, the Fund will be subject to the risk that its direct counterparty will not perform its obligations under the transactions and that the Fund will sustain losses.

Credit/Default Risk.  An issuer or guarantor of fixed income securities held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant NAV deterioration. These risks are more pronounced in connection with the Fund’s investments in non-investment grade fixed income securities.

Derivatives Risk.  The Fund's use of forward foreign currency exchange contracts, futures contracts (including interest rate futures and treasury and sovereign bond futures), options (including options on futures contracts, swaps, bonds, stocks and indexes), swaps (including credit default, mortgage, index, basis, total return, volatility and currency swaps), and other forward contracts and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid, or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligations. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the Securities and Exchange Commission ("SEC") proposed new regulations relating to a mutual fund's use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact a Fund's ability to invest in derivatives and other instruments and adversely affect such Fund's performance and ability to pursue its investment objectives.

Floating and Variable Rate Obligations Risk.  For floating and variable rate obligations, there may be a lag between an actual change in the underlying interest rate benchmark and the reset time for an interest payment of such an obligation, which could harm or benefit the Fund, depending on the interest rate environment or other circumstances. In a rising interest rate environment, for example, a floating or variable rate obligation that does not reset immediately would prevent the Fund from taking full advantage of rising interest rates in a timely manner. However, in a declining interest rate environment, the Fund may benefit from a lag due to an obligation’s interest rate payment not being immediately impacted by a decline in interest rates.

Certain floating and variable rate obligations have an interest rate floor feature, which prevents the interest rate payable by the security from dropping below a specified level as compared to a reference interest rate (the “reference rate”), such as LIBOR. Such a floor protects the Fund from losses resulting from a decrease in the reference rate below the specified level. However, if the reference rate is below the floor, there will be a lag between a rise in the reference rate and a rise in the interest rate payable by the obligation, and the Fund may not benefit from increasing interest rates for a significant amount of time.

Foreign and Emerging Countries Risk.  Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls (including repatriation restrictions), sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. These risks may be more pronounced in connection with the Fund's investments in securities of issuers located in emerging countries.

Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund's investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.

Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.

Leverage Risk.  Borrowing and the use of derivatives may result in leverage and may make the Fund more volatile. The use of leverage may cause the Fund to liquidate portfolio positions to satisfy its obligations or to meet asset segregation requirements when it may not be advantageous to do so. The use of leverage by the Fund can substantially increase the adverse impact to which the Fund’s investment portfolio may be subject.

Liquidity Risk.  The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests, or other reasons. To meet redemption requests, the Fund may be forced to sell securities at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.

Loan-Related Investments Risk.  In addition to risks generally associated with debt investments, loan-related investments such as loan participations and assignments are subject to other risks. Although a loan obligation may be fully collateralized at the time of acquisition, the collateral may decline in value, be relatively illiquid, or lose all or substantially all of its value subsequent to investment. Many loan investments are subject to legal or contractual restrictions on resale and may be relatively illiquid and difficult to value. There is less readily available, reliable information about most loan investments than is the case for many other types of securities. Substantial increases in interest rates may cause an increase in loan obligation defaults. With respect to loan participations, the Fund may not always have direct recourse against a borrower if the borrower fails to pay scheduled principal and/or interest; may be subject to greater delays, expenses and risks than if the Fund had purchased a direct obligation of the borrower; and may be regarded as the creditor of the agent lender (rather than the borrower), subjecting the Fund to the creditworthiness of that lender as well. Investors in loans, such as the Fund, may not be entitled to rely on the anti-fraud protections of the federal securities laws, although they may be entitled to certain contractual remedies. The market for loan obligations may be subject to irregular trading activity, wide bid/ask spreads and extended trade settlement periods. Because transactions in many loans are subject to extended trade settlement periods, the Fund may not receive the proceeds from the sale of a loan for a period after the sale. As a result, sale proceeds related to the sale of loans may not be available to make additional investments or to meet the Fund’s redemption obligations for a period after the sale of the loans, and, as a result, the Fund may have to sell other investments or engage in borrowing transactions, such as borrowing from its credit facility, if necessary to raise cash to meet its obligations.

Senior Loans hold the most senior position in the capital structure of a business entity, and are typically secured with specific collateral, but are nevertheless usually rated below investment grade. Because Second Lien Loans are subordinated or unsecured and thus lower in priority of payment to Senior Loans, they are subject to the additional risk that the cash flow of the borrower and property securing the loan or debt, if any, may be insufficient to meet scheduled payments after giving effect to the senior secured obligations of the borrower. Second Lien Loans generally have greater price volatility than Senior Loans and may be less liquid.

Management Risk.  A strategy used by the Investment Adviser may fail to produce the intended results.

Market Risk.  The value of the securities in which the Fund invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/ or general economic conditions throughout the world due to increasingly interconnected global economies and financial markets.

Mortgage-Backed and Other Asset-Backed Securities Risk.  Mortgage-related and other asset-backed securities are subject to certain additional risks, including “extension risk” (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and “prepayment risk” (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Mortgage-backed securities offered by non-governmental issuers are subject to other risks as well, including failures of private insurers to meet their obligations and unexpectedly high rates of default on the mortgages backing the securities. Other asset-backed securities are subject to risks similar to those associated with mortgage-backed securities, as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.

Non-Diversification Risk.  The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified mutual funds. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.

Non-Hedging Foreign Currency Trading Risk.  The Fund may engage in forward foreign currency transactions for both hedging and non-hedging purposes. The Investment Adviser may purchase or sell foreign currencies through the use of forward contracts based on the Investment Adviser’s judgment regarding the direction of the market for a particular foreign currency or currencies. In pursuing this strategy, the Investment Adviser seeks to profit from anticipated movements in currency rates by establishing “long” and/or “short” positions in forward contracts on various foreign currencies. Foreign exchange rates can be extremely volatile and a variance in the degree of volatility of the market or in the direction of the market from the Investment Advisers’ expectations may produce significant losses to the Fund. Some of the transactions may also be subject to interest rate risk.

Non-Investment Grade Fixed Income Securities Risk.  Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as “junk bonds”) are considered speculative and are subject to the increased risk of an issuer’s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity.

Portfolio Turnover Rate Risk.  A high rate of portfolio turnover involves correspondingly greater expenses which must be borne by the Fund and its shareholders, and is also likely to result in short-term capital gains taxable to shareholders.

Short Position Risk.  The Fund may enter into a short position through a futures contract, an option or swap agreement or through short sales of any instrument that the Fund may purchase for investment. Taking short positions involves leverage of the Fund’s assets and presents various risks. If the value of the underlying instrument or market in which the Fund has taken a short position increases, then the Fund will incur a loss equal to the increase in value from the time that the short position was entered into plus any related interest payments or other fees. Taking short positions involves the risk that losses may be disproportionate, may exceed the amount invested, and may be unlimited.

Sovereign Default Risk.  An issuer of sovereign debt or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay the principal or interest when due. This may result from political or social factors, the general economic environment of a country or levels of foreign debt or foreign currency exchange rates.

Subsidiary Risk.  The Subsidiary is not registered under the Investment Company Act of 1940, as amended ("Investment Company Act") and is not subject to all the investor protections of the Investment Company Act. Changes in the laws of the United States and/or the Cayman Islands could result in the inability of the Fund and/or the Subsidiary to operate as described in the Prospectus and the SAI and could adversely affect the Fund.

Tax Risk.  In reliance on an opinion of counsel, the Fund seeks to gain exposure to the commodity markets primarily through investments in the Subsidiary. The Internal Revenue Service ("IRS") recently issued proposed regulations that, if finalized, would generally treat the Fund's income inclusion with respect to a subsidiary as qualifying income only if there is a distribution out of the earnings and profits of a subsidiary that are attributable to such income inclusion. The proposed regulations, if adopted, would apply to taxable years beginning on or after 90 days after the regulations are published as final.

The tax treatment of the Fund's investments in the Subsidiary could affect whether income derived from such investments is "qualifying income" under Subchapter M of the Internal Revenue Code of 1986, as amended (the "Code"), or otherwise affect the character, timing and/or amount of the Fund's taxable income or any gains and distributions made by the Fund. If the IRS were to successfully assert that a Fund's income from such investments was not "qualifying income," the Fund may fail to qualify as a regulated investment company ("RIC") under Subchapter M of the Code if over 10% of its gross income was derived from these investments. If the Fund failed to qualify as a RIC, it would be subject to federal and state income tax on all of its taxable income at regular corporate tax rates with no deduction for any distributions paid to shareholders, which would significantly adversely affect the returns to, and could cause substantial losses for, Fund shareholders.

Shareholders should review "Distributions" in the "Taxation" section of the Prospectus for more information.

U.S. Government Securities Risk.  The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by those agencies, instrumentalities and government sponsored enterprises, including those issued by the Federal National Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including any legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future.
Performance
The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Investor, Class R and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart
The total return for Class A Shares for the six month period ended
June 30, 2017 was 0.80%.

Best Quarter
Q3 ’16              +2.45%

Worst Quarter
Q4 ‘14              –5.42%
AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Average Annual Total Returns - Goldman Sachs Strategic Macro Fund
1 Year
Since Inception
Inception Date
Class A Shares (3.72%) (3.23%) Dec. 16, 2013
Class A Shares | Returns After Taxes on Distributions (4.13%) (4.20%) Dec. 16, 2013
Class A Shares | Returns After Taxes on Distributions and Sale of Fund Shares (2.10%) (2.86%) Dec. 16, 2013
Class C Shares (1.78%) (2.43%) Dec. 16, 2013
Institutional Shares 0.24% (1.74%) Dec. 16, 2013
Investor Shares 0.24% (1.86%) Dec. 16, 2013
Class R Shares (0.23%) (2.16%) Dec. 16, 2013
Class T Shares [1] (3.72%) (3.23%) Jul. 28, 2017
Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index (reflects no deduction for fees or expenses) 0.66% 0.38%  
[1] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
XML 77 R173.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName GOLDMAN SACHS TRUST
Prospectus Date rr_ProspectusDate Jul. 28, 2017
Goldman Sachs Strategic Macro Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Goldman Sachs Strategic Macro Fund—Summary
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Goldman Sachs Strategic Macro Fund (formerly Goldman Sachs Fixed Income Macro Strategies Fund) (the “Fund”) seeks to generate long-term absolute return.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 45 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 48 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 84 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees
(fees paid directly from your investment):
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment):
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination July 28, 2018
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs when it buys and sells securities or instruments (i.e., “turns over” its portfolio). A high rate of portfolio turnover may result in increased transaction costs, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance. The Fund’s portfolio turnover rate for the fiscal year ended March 31, 2017 was 376% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 376.00%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock A contingent deferred sales charge (“CDSC”) of 1.00% is imposed on Class C Shares redeemed within 12 months of purchase.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A or Class T Shares if you invest at least $100,000 or $250,000, respectively, in Goldman Sachs Funds. More information about these and other discounts is available from your financial professional and in “Shareholder Guide—Common Questions Applicable to the Purchase of Class A Shares” beginning on page 45 and “Shareholder Guide—Common Questions Applicable to the Purchase of Class T Shares” beginning on page 48 and in Appendix C—Additional Information About Sales Charge Variations, Waivers and Discounts on page 84 of the Prospectus and “Other Information Regarding Maximum Sales Charge, Purchases, Redemptions, Exchanges and Dividends” beginning on page B-122 of the Fund’s Statement of Additional Information (“SAI”).
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates The “Other Expenses” for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent The Fund’s “Management Fees” have been restated to reflect current fees.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees The “Total Annual Fund Operating Expenses” do not correlate to the ratios of net and total expenses to average net assets provided in the Financial Highlights, which reflect the operating expenses of the Fund and do not include “Acquired Fund Fees and Expenses”.
Expense Example [Heading] rr_ExpenseExampleHeading Expense Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in Class A, Class C, Institutional, Investor, Class R and/or Class T Shares of the Fund for the time periods indicated and then redeem all of your Class A, Class C, Institutional, Investor, Class R and/or Class T Shares at the end of those periods, unless otherwise stated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates the fee waivers and expense limitation arrangements for only the first year). Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption Assuming complete redemption at end of period
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption Assuming no redemption
Strategy [Heading] rr_StrategyHeading Principal Strategy
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Investment Adviser seeks to achieve its investment objective through the implementation of relative value, macro, long/short and other strategies that aim to exploit disparities or inefficiencies in the global fixed income, currency and commodities markets. The Fund may also employ a macro hedge at the portfolio level to remove unintended market directional risks, which may enable the Fund to pursue returns in a variety of market cycles. Absolute return performance may be uncorrelated to fixed income and equity markets over the long-term.

The Fund invests primarily in fixed income investments, including but not limited to: U.S. and foreign investment grade and non-investment grade fixed income investments, securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises (“U.S. Government Securities”), agency securities, agency mortgage-backed securities, as well as pooled investment vehicles, derivatives and other instruments that provide exposure to such investments. The Fund may invest in fixed income securities of any maturity. The Fund may invest in unregistered securities, including, for example, restricted securities eligible for resale pursuant to an exemption from registration under the Securities Act of 1933, as amended (“Securities Act”).

The Fund generally intends to invest in the following securities using a long/short approach: U.S. dollar denominated non-U.S. sovereign debt, corporate debt securities, quasi-sovereign securities, non-agency mortgage-backed securities, asset-backed securities, municipal securities, loans and loan participations and convertible securities, preferred stock, as well as pooled investment vehicles, derivatives and other instruments that provide exposure to such investments. The Fund’s investments in loans and loan participations may include, but are not limited to: (a) senior secured floating rate and fixed rate loans or debt (“Senior Loans”), (b) second lien or other subordinated or unsecured floating rate and fixed rate loans or debt (“Second Lien Loans”) and (c) other types of secured or unsecured loans with fixed, floating or variable interest rates. A long/short approach is a strategy that seeks to produce returns with risk and volatility that are uncorrelated with general global market risk and volatility by simultaneously taking long and short exposures in approximately equal amounts.

Non-investment grade fixed income securities (commonly known as “junk bonds”) are securities rated BB+, Ba1 or below by a nationally recognized statistical rating organization (“NRSRO”), or, if unrated, determined by the Investment Adviser to be of comparable credit quality.

The Fund may invest in sovereign debt securities and other instruments of issuers in emerging market countries. Such investments may include sovereign debt issued by emerging countries that have sovereign ratings below investment grade or that are unrated. There is no limitation to the amount the Fund invests in non-investment grade or emerging market securities. The Fund’s investments may be denominated in currencies other than the U.S. dollar.

The Fund may engage in forward foreign currency transactions for both investment and hedging purposes. The Fund also intends to invest in other derivative instruments. Derivatives are instruments that have a value based on another instrument, exchange rate, interest rate or index. The Fund’s investments in derivatives may include, in addition to forward foreign currency exchange contracts, futures contracts (including interest rate futures and Treasury and sovereign bond futures), options (including options on futures contracts, swaps, bonds, stocks and indexes), swaps (including credit default, mortgage, index, basis, total return, inflation, inflation asset, volatility, correlation, variance and currency swaps), and other forward contracts. The Fund may use derivatives instead of buying and selling bonds to manage duration, or to gain long or short exposure to individual securities, a credit or asset backed index or equity markets.

The Fund may implement short positions and may do so by using swaps or futures, or through short sales of any instrument that the Fund may purchase for investment. For example, the Fund may enter into a futures contract pursuant to which it agrees to sell an asset (that it does not currently own) at a specified price at a specified point in the future. This gives the Fund a short position with respect to that asset. The Fund will benefit to the extent the asset decreases in value (and will experience losses to the extent the asset increases in value) between the time it enters into the futures contract and the agreed date of sale. Alternatively, the Fund may sell an instrument (e.g., a bond, or a futures contract) it does not own in anticipation of a decline in the market value of the instrument, and then borrow the instrument to make delivery to the buyer. In these transactions, the Fund is obligated to replace the instrument borrowed by purchasing it at the market price at the time of replacement.

Additionally, the Fund uses short positions and derivatives for both hedging and non-hedging purposes.

The Fund may sell investments that the portfolio managers believe are no longer favorable with regard to these factors.

Investment in Cayman Subsidiary. The Fund intends to gain exposure to the commodities markets by investing in a wholly-owned subsidiary of the Fund organized as a company under the laws of the Cayman Islands (the “Subsidiary”). The Subsidiary is advised by the Investment Adviser and seeks to gain commodities exposure.

The Fund may invest up to 25% of its total assets in the Subsidiary. The Subsidiary primarily obtains its commodity exposure by investing in commodity index-linked derivative instruments (which may include total return swaps and commodities futures). Commodity-linked swaps are derivative instruments whereby the cash flows agreed upon between counterparties are dependent upon the price of the underlying commodity or commodity index over the life of the swap. Commodity futures contracts are standardized exchange-traded contracts that provide for the sale, or purchase of, or economic exposure to the price of, a commodity or a specified basket of commodities at a future time. The value of these commodity-linked derivatives will rise and fall in response to changes in the underlying commodity or commodity index. Commodity-linked derivatives expose the Subsidiary and the Fund economically to movements in commodity prices. Such instruments may be leveraged so that small changes in the underlying commodity prices would result in disproportionate changes in the value of the instruments. Neither the Fund nor the Subsidiary invests directly in commodities. The Subsidiary will also invest in other instruments, including fixed income securities, either as investments or to serve as margin or collateral for its swap positions.

Exposure to Commodities. The Fund primarily gains exposure to commodities by investing in the Subsidiary, and it may also gain exposure to commodities by investing in commodity index-linked structured notes, publicly traded partnerships (“PTPs”), exchange-traded funds (“ETFs”), affiliated or unaffiliated investment companies and commodities futures. PTPs are limited partnerships, the interests (or “units”) in which are traded on public exchanges, just like ETFs. The Fund may invest in PTPs that are commodity pools.

The Fund’s benchmark index is the Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index. References in the Prospectus to the Fund’s benchmark are for informational purposes only and are not an indication of how the Fund is managed.

THE FUND IS NON-DIVERSIFIED UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED (THE “INVESTMENT COMPANY ACT”), AND MAY INVEST A LARGER PERCENTAGE OF ITS ASSETS IN FEWER ISSUERS THAN DIVERSIFIED MUTUAL FUNDS.
Risk [Heading] rr_RiskHeading Principal Risks of the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Loss of money is a risk of investing in the Fund. The investment program of the Fund is speculative, entails substantial risks and includes alternative investment techniques not employed by traditional mutual funds. The Fund should not be relied upon as a complete investment program. The Fund’s investment techniques (if they do not perform as designed) may increase the volatility of performance and the risk of investment loss, including the loss of the entire amount that is invested, and there can be no assurance that the investment objective of the Fund will be achieved. Moreover, certain investment techniques which the Fund may employ in its investment program can substantially increase the adverse impact to which the Fund’s investments may be subject. There is no assurance that the investment processes of the Fund will be successful, that the techniques utilized therein will be implemented successfully or that they are adequate for their intended uses, or that the discretionary element of the investment processes of the Fund will be exercised in a manner that is successful or that is not adverse to the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any government agency. Investors should carefully consider these risks before investing.

In addition, the Fund’s net asset value (“NAV”) may fluctuate substantially over time. Because the Fund attempts to exploit disparities or inefficiencies in the global fixed income, currency and commodities markets, the Fund’s performance may potentially be lower than the returns of the broader stock market. Accordingly, the Fund should be considered a speculative investment entailing a high degree of risk and is not suitable for all investors.

Commodity Sector Risk.  Exposure to the commodities markets may subject the Fund to greater volatility than investments in more traditional securities. The value of commodity-linked investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. The prices of energy, industrial metals, precious metals, agriculture and livestock sector commodities may fluctuate widely due to factors such as changes in value, supply and demand and governmental regulatory policies. The commodity-linked investments in which the Fund may enter into may involve companies in the financial services sector, and events affecting the financial services sector may cause the Fund's share value to fluctuate.

Counterparty Risk.  Many of the protections afforded to cleared transactions, such as the security afforded by transacting through clearing house, might not be available in connection with over the counter (“OTC”) transactions. Therefore, in those instances in which the Fund enters into OTC transactions, the Fund will be subject to the risk that its direct counterparty will not perform its obligations under the transactions and that the Fund will sustain losses.

Credit/Default Risk.  An issuer or guarantor of fixed income securities held by the Fund (which may have low credit ratings) may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant NAV deterioration. These risks are more pronounced in connection with the Fund’s investments in non-investment grade fixed income securities.

Derivatives Risk.  The Fund's use of forward foreign currency exchange contracts, futures contracts (including interest rate futures and treasury and sovereign bond futures), options (including options on futures contracts, swaps, bonds, stocks and indexes), swaps (including credit default, mortgage, index, basis, total return, volatility and currency swaps), and other forward contracts and other derivative instruments may result in losses. These instruments, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other instruments, may be illiquid, or less liquid, volatile, difficult to price and leveraged so that small changes in the value of underlying instruments may produce disproportionate losses to the Fund. Derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not fulfill its contractual obligations. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. In December 2015, the Securities and Exchange Commission ("SEC") proposed new regulations relating to a mutual fund's use of derivatives and related instruments. If these or other regulations are adopted, they could significantly limit or impact a Fund's ability to invest in derivatives and other instruments and adversely affect such Fund's performance and ability to pursue its investment objectives.

Floating and Variable Rate Obligations Risk.  For floating and variable rate obligations, there may be a lag between an actual change in the underlying interest rate benchmark and the reset time for an interest payment of such an obligation, which could harm or benefit the Fund, depending on the interest rate environment or other circumstances. In a rising interest rate environment, for example, a floating or variable rate obligation that does not reset immediately would prevent the Fund from taking full advantage of rising interest rates in a timely manner. However, in a declining interest rate environment, the Fund may benefit from a lag due to an obligation’s interest rate payment not being immediately impacted by a decline in interest rates.

Certain floating and variable rate obligations have an interest rate floor feature, which prevents the interest rate payable by the security from dropping below a specified level as compared to a reference interest rate (the “reference rate”), such as LIBOR. Such a floor protects the Fund from losses resulting from a decrease in the reference rate below the specified level. However, if the reference rate is below the floor, there will be a lag between a rise in the reference rate and a rise in the interest rate payable by the obligation, and the Fund may not benefit from increasing interest rates for a significant amount of time.

Foreign and Emerging Countries Risk.  Foreign securities may be subject to risk of loss because of more or less foreign government regulation, less public information and less economic, political and social stability in the countries in which the Fund invests. The imposition of exchange controls (including repatriation restrictions), sanctions, confiscations, trade restrictions (including tariffs) and other government restrictions by the United States and other governments, or from problems in share registration, settlement or custody, may also result in losses. Foreign risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. These risks may be more pronounced in connection with the Fund's investments in securities of issuers located in emerging countries.

Interest Rate Risk.  When interest rates increase, fixed income securities or instruments held by the Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. The risks associated with increasing rates are heightened given that interest rates are near historic lows, but may be expected to increase in the future with unpredictable effects on the markets and the Fund's investments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.

Large Shareholder Transactions Risk.  The Fund may experience adverse effects when certain large shareholders purchase or redeem large amounts of shares of the Fund. Such large shareholder redemptions may cause the Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Fund’s NAV and liquidity. Similarly, large Fund share purchases may adversely affect the Fund’s performance to the extent that the Fund is delayed in investing new cash and is required to maintain a larger cash position than it ordinarily would. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in the Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio.

Leverage Risk.  Borrowing and the use of derivatives may result in leverage and may make the Fund more volatile. The use of leverage may cause the Fund to liquidate portfolio positions to satisfy its obligations or to meet asset segregation requirements when it may not be advantageous to do so. The use of leverage by the Fund can substantially increase the adverse impact to which the Fund’s investment portfolio may be subject.

Liquidity Risk.  The Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests, or other reasons. To meet redemption requests, the Fund may be forced to sell securities at an unfavorable time and/or under unfavorable conditions. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income mutual funds may be higher than normal, potentially causing increased supply in the market due to selling activity.

Loan-Related Investments Risk.  In addition to risks generally associated with debt investments, loan-related investments such as loan participations and assignments are subject to other risks. Although a loan obligation may be fully collateralized at the time of acquisition, the collateral may decline in value, be relatively illiquid, or lose all or substantially all of its value subsequent to investment. Many loan investments are subject to legal or contractual restrictions on resale and may be relatively illiquid and difficult to value. There is less readily available, reliable information about most loan investments than is the case for many other types of securities. Substantial increases in interest rates may cause an increase in loan obligation defaults. With respect to loan participations, the Fund may not always have direct recourse against a borrower if the borrower fails to pay scheduled principal and/or interest; may be subject to greater delays, expenses and risks than if the Fund had purchased a direct obligation of the borrower; and may be regarded as the creditor of the agent lender (rather than the borrower), subjecting the Fund to the creditworthiness of that lender as well. Investors in loans, such as the Fund, may not be entitled to rely on the anti-fraud protections of the federal securities laws, although they may be entitled to certain contractual remedies. The market for loan obligations may be subject to irregular trading activity, wide bid/ask spreads and extended trade settlement periods. Because transactions in many loans are subject to extended trade settlement periods, the Fund may not receive the proceeds from the sale of a loan for a period after the sale. As a result, sale proceeds related to the sale of loans may not be available to make additional investments or to meet the Fund’s redemption obligations for a period after the sale of the loans, and, as a result, the Fund may have to sell other investments or engage in borrowing transactions, such as borrowing from its credit facility, if necessary to raise cash to meet its obligations.

Senior Loans hold the most senior position in the capital structure of a business entity, and are typically secured with specific collateral, but are nevertheless usually rated below investment grade. Because Second Lien Loans are subordinated or unsecured and thus lower in priority of payment to Senior Loans, they are subject to the additional risk that the cash flow of the borrower and property securing the loan or debt, if any, may be insufficient to meet scheduled payments after giving effect to the senior secured obligations of the borrower. Second Lien Loans generally have greater price volatility than Senior Loans and may be less liquid.

Management Risk.  A strategy used by the Investment Adviser may fail to produce the intended results.

Market Risk.  The value of the securities in which the Fund invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/ or general economic conditions throughout the world due to increasingly interconnected global economies and financial markets.

Mortgage-Backed and Other Asset-Backed Securities Risk.  Mortgage-related and other asset-backed securities are subject to certain additional risks, including “extension risk” (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and “prepayment risk” (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Fund to reinvest proceeds at lower prevailing interest rates). Mortgage-backed securities offered by non-governmental issuers are subject to other risks as well, including failures of private insurers to meet their obligations and unexpectedly high rates of default on the mortgages backing the securities. Other asset-backed securities are subject to risks similar to those associated with mortgage-backed securities, as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.

Non-Diversification Risk.  The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified mutual funds. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.

Non-Hedging Foreign Currency Trading Risk.  The Fund may engage in forward foreign currency transactions for both hedging and non-hedging purposes. The Investment Adviser may purchase or sell foreign currencies through the use of forward contracts based on the Investment Adviser’s judgment regarding the direction of the market for a particular foreign currency or currencies. In pursuing this strategy, the Investment Adviser seeks to profit from anticipated movements in currency rates by establishing “long” and/or “short” positions in forward contracts on various foreign currencies. Foreign exchange rates can be extremely volatile and a variance in the degree of volatility of the market or in the direction of the market from the Investment Advisers’ expectations may produce significant losses to the Fund. Some of the transactions may also be subject to interest rate risk.

Non-Investment Grade Fixed Income Securities Risk.  Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as “junk bonds”) are considered speculative and are subject to the increased risk of an issuer’s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity.

Portfolio Turnover Rate Risk.  A high rate of portfolio turnover involves correspondingly greater expenses which must be borne by the Fund and its shareholders, and is also likely to result in short-term capital gains taxable to shareholders.

Short Position Risk.  The Fund may enter into a short position through a futures contract, an option or swap agreement or through short sales of any instrument that the Fund may purchase for investment. Taking short positions involves leverage of the Fund’s assets and presents various risks. If the value of the underlying instrument or market in which the Fund has taken a short position increases, then the Fund will incur a loss equal to the increase in value from the time that the short position was entered into plus any related interest payments or other fees. Taking short positions involves the risk that losses may be disproportionate, may exceed the amount invested, and may be unlimited.

Sovereign Default Risk.  An issuer of sovereign debt or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay the principal or interest when due. This may result from political or social factors, the general economic environment of a country or levels of foreign debt or foreign currency exchange rates.

Subsidiary Risk.  The Subsidiary is not registered under the Investment Company Act of 1940, as amended ("Investment Company Act") and is not subject to all the investor protections of the Investment Company Act. Changes in the laws of the United States and/or the Cayman Islands could result in the inability of the Fund and/or the Subsidiary to operate as described in the Prospectus and the SAI and could adversely affect the Fund.

Tax Risk.  In reliance on an opinion of counsel, the Fund seeks to gain exposure to the commodity markets primarily through investments in the Subsidiary. The Internal Revenue Service ("IRS") recently issued proposed regulations that, if finalized, would generally treat the Fund's income inclusion with respect to a subsidiary as qualifying income only if there is a distribution out of the earnings and profits of a subsidiary that are attributable to such income inclusion. The proposed regulations, if adopted, would apply to taxable years beginning on or after 90 days after the regulations are published as final.

The tax treatment of the Fund's investments in the Subsidiary could affect whether income derived from such investments is "qualifying income" under Subchapter M of the Internal Revenue Code of 1986, as amended (the "Code"), or otherwise affect the character, timing and/or amount of the Fund's taxable income or any gains and distributions made by the Fund. If the IRS were to successfully assert that a Fund's income from such investments was not "qualifying income," the Fund may fail to qualify as a regulated investment company ("RIC") under Subchapter M of the Code if over 10% of its gross income was derived from these investments. If the Fund failed to qualify as a RIC, it would be subject to federal and state income tax on all of its taxable income at regular corporate tax rates with no deduction for any distributions paid to shareholders, which would significantly adversely affect the returns to, and could cause substantial losses for, Fund shareholders.

Shareholders should review "Distributions" in the "Taxation" section of the Prospectus for more information.

U.S. Government Securities Risk.  The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. U.S. Government Securities issued by those agencies, instrumentalities and government sponsored enterprises, including those issued by the Federal National Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and the Federal Home Loan Banks are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. Government Securities held by the Fund may greatly exceed their current resources, including any legal right to support from the U.S. Treasury. It is possible that issuers of U.S. Government Securities will not have the funds to meet their payment obligations in the future.
Risk Lose Money [Text] rr_RiskLoseMoney Loss of money is a risk of investing in the Fund.
Risk Nondiversified Status [Text] rr_RiskNondiversifiedStatus Non-Diversification Risk.  The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified mutual funds. Thus, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation ("FDIC") or any government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Investor, Class R and Class T Shares compare to those of a broad-based securities market index. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at no cost at www.gsamfunds.com/performance or by calling the appropriate phone number on the back cover of the Prospectus. Performance reflects applicable fee waivers and/or expense limitations in effect during the periods shown.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and table below provide an indication of the risks of investing in the Fund by showing: (a) changes in the performance of the Fund’s Class A Shares from year to year; and (b) how the average annual total returns of the Fund’s Class A, Class C, Institutional, Investor, Class R and Class T Shares compare to those of a broad-based securities market index.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess As of the date of the Prospectus, Class T Shares have not commenced operations.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.gsamfunds.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund's past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading TOTAL RETURN CALENDAR YEAR (CLASS A)
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock The total return for Class A Shares for the six month period ended
June 30, 2017 was 0.80%.

Best Quarter
Q3 ’16              +2.45%

Worst Quarter
Q4 ‘14              –5.42%
Performance Table Heading rr_PerformanceTableHeading AVERAGE ANNUAL TOTAL RETURN

For the period ended December 31, 2016
Performance Table Does Reflect Sales Loads rr_PerformanceTableDoesReflectSalesLoads Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R Shares (which are offered exclusively to employee benefit plans), will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The after-tax returns are for Class A Shares only. The after-tax returns for Class C, Institutional, Investor and Class T Shares, and returns for Class R Shares (which are offered exclusively to employee benefit plans), will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Goldman Sachs Strategic Macro Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 3.75%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.95% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 1.19%
Other Expenses rr_OtherExpensesOverAssets 1.19% [3]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.30%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.69% [4]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (1.35%) [5]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.34% [4],[6]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 100,000
1 Year rr_ExpenseExampleYear01 506
3 Years rr_ExpenseExampleYear03 1,056
5 Years rr_ExpenseExampleYear05 1,631
10 Years rr_ExpenseExampleYear10 $ 3,188
2014 rr_AnnualReturn2014 (8.13%)
2015 rr_AnnualReturn2015 1.04%
2016 rr_AnnualReturn2016 (0.02%)
Year to Date Return, Label rr_YearToDateReturnLabel total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 0.80%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2016
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 2.45%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2014
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (5.42%)
1 Year rr_AverageAnnualReturnYear01 (3.72%)
Since Inception rr_AverageAnnualReturnSinceInception (3.23%)
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 16, 2013
Goldman Sachs Strategic Macro Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Management Fees rr_ManagementFeesOverAssets 0.95% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Service Fees rr_Component1OtherExpensesOverAssets 0.25%
All Other Expenses rr_Component3OtherExpensesOverAssets 1.19%
Other Expenses rr_OtherExpensesOverAssets 1.44% [3]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.30%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 3.44% [4]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (1.35%) [5]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 2.09% [4],[6]
1 Year rr_ExpenseExampleYear01 $ 312
3 Years rr_ExpenseExampleYear03 931
5 Years rr_ExpenseExampleYear05 1,673
10 Years rr_ExpenseExampleYear10 3,631
1 Year rr_ExpenseExampleNoRedemptionYear01 212
3 Years rr_ExpenseExampleNoRedemptionYear03 931
5 Years rr_ExpenseExampleNoRedemptionYear05 1,673
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 3,631
1 Year rr_AverageAnnualReturnYear01 (1.78%)
Since Inception rr_AverageAnnualReturnSinceInception (2.43%)
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 16, 2013
Goldman Sachs Strategic Macro Fund | Institutional  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.95% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 1.10%
Other Expenses rr_OtherExpensesOverAssets 1.10% [3]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.30%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.35% [4]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (1.29%) [5]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.06% [4],[6]
1 Year rr_ExpenseExampleYear01 $ 108
3 Years rr_ExpenseExampleYear03 610
5 Years rr_ExpenseExampleYear05 1,138
10 Years rr_ExpenseExampleYear10 $ 2,587
1 Year rr_AverageAnnualReturnYear01 0.24%
Since Inception rr_AverageAnnualReturnSinceInception (1.74%)
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 16, 2013
Goldman Sachs Strategic Macro Fund | Investor  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.95% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 1.19%
Other Expenses rr_OtherExpensesOverAssets 1.19% [3]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.30%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.44% [4]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (1.35%) [5]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.09% [4],[6]
1 Year rr_ExpenseExampleYear01 $ 111
3 Years rr_ExpenseExampleYear03 631
5 Years rr_ExpenseExampleYear05 1,178
10 Years rr_ExpenseExampleYear10 $ 2,674
1 Year rr_AverageAnnualReturnYear01 0.24%
Since Inception rr_AverageAnnualReturnSinceInception (1.86%)
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 16, 2013
Goldman Sachs Strategic Macro Fund | Class R  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.95% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 1.19%
Other Expenses rr_OtherExpensesOverAssets 1.19% [3]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.30%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.94% [4]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (1.35%) [5]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.59% [4],[6]
1 Year rr_ExpenseExampleYear01 $ 162
3 Years rr_ExpenseExampleYear03 782
5 Years rr_ExpenseExampleYear05 1,429
10 Years rr_ExpenseExampleYear10 $ 3,165
1 Year rr_AverageAnnualReturnYear01 (0.23%)
Since Inception rr_AverageAnnualReturnSinceInception (2.16%)
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 16, 2013
Goldman Sachs Strategic Macro Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Management Fees rr_ManagementFeesOverAssets 0.95% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Service Fees rr_Component1OtherExpensesOverAssets none
All Other Expenses rr_Component3OtherExpensesOverAssets 1.19%
Other Expenses rr_OtherExpensesOverAssets 1.19% [3]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.30%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.69% [4]
Fee Waiver and Expense Limitation rr_FeeWaiverOrReimbursementOverAssets (1.35%) [5]
Total Annual Fund Operating Expenses rr_NetExpensesOverAssets 1.34% [4],[6]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
1 Year rr_ExpenseExampleYear01 383
3 Years rr_ExpenseExampleYear03 939
5 Years rr_ExpenseExampleYear05 1,522
10 Years rr_ExpenseExampleYear10 $ 3,100
1 Year rr_AverageAnnualReturnYear01 (3.72%) [7]
Since Inception rr_AverageAnnualReturnSinceInception (3.23%) [7]
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 28, 2017 [7]
Goldman Sachs Strategic Macro Fund | Returns After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (4.13%)
Since Inception rr_AverageAnnualReturnSinceInception (4.20%)
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 16, 2013
Goldman Sachs Strategic Macro Fund | Returns After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (2.10%)
Since Inception rr_AverageAnnualReturnSinceInception (2.86%)
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 16, 2013
Goldman Sachs Strategic Macro Fund | Bank of America Merrill Lynch U.S. Dollar Three-Month LIBOR Constant Maturity Index (reflects no deduction for fees or expenses)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 0.66%
Since Inception rr_AverageAnnualReturnSinceInception 0.38%
[1] A contingent deferred sales charge ("CDSC") of 1.00% is imposed on Class C Shares redeemed within 12 months of purchase.
[2] The Fund's "Management Fees" have been restated to reflect current fees.
[3] The "Other Expenses" for Class T Shares have been estimated to reflect expenses expected to be incurred during the current fiscal year.
[4] The "Total Annual Fund Operating Expenses" do not correlate to the ratios of net and total expenses to average net assets provided in the Financial Highlights, which reflect the operating expenses of the Fund and do not include "Acquired Fund Fees and Expenses".
[5] The Investment Adviser has agreed to (i) waive a portion of the management fee in an amount equal to the management fee paid to the Investment Adviser by the Subsidiary at an annual rate of 0.42% of the Subsidiary's average daily net assets, and (ii) reduce or limit "Other Expenses" (excluding acquired fund fees and expenses, transfer agency fees and expenses, service fees, taxes, interest, brokerage fees, shareholder meeting, litigation, indemnification and extraordinary expenses) to 0.064% of the Fund's average daily net assets. Additionally, Goldman Sachs & Co. LLC ("Goldman Sachs"), the Fund's transfer agent, has agreed to waive a portion of its transfer agency fee (a component of "Other Expenses") equal to 0.06% as an annual percentage rate of the average daily net assets attributable to Class A, Class C, Investor, Class R, and Class T Shares of the Fund. These arrangements will remain in effect through at least July 28, 2018, and prior to such date, the Investment Adviser may not terminate the arrangements without the approval of the Board of Trustees.
[6] After Fee Waivers and Expense Limitation
[7] As of the date of the Prospectus, Class T Shares have not commenced operations. Performance of Class T Shares shown in the table above is that of Class A Shares. Performance has not been adjusted to reflect the lower maximum sales charge (load) imposed on purchases of Class T Shares. Class T Shares would have had higher returns because: (i) Class A Shares and Class T Shares represent interests in the same portfolio of securities; and (ii) Class T Shares impose a lower maximum sales charge (load) on purchases.
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Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName GOLDMAN SACHS TRUST
Prospectus Date rr_ProspectusDate Jul. 28, 2017
Document Creation Date dei_DocumentCreationDate Jul. 28, 2017
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